I heard from a couple of realtors that nice houses with good location, nice layout, find renovation, are still selling quickly. I have been searching around for a while and I believe it is true. Price for those nice houses are not down very much. I can not afford that much money to buy though, but many people still can. In March, I have seen more houses are sold than in Feb.
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I am not sure about the reason or I do not want to judge their reasons but I believe the price (under 400k houses) has not went down too much.