In the trenches, I have noticed a marked difference moving into June 2009. April and May were good months with buyers and sellers.
A greater percentage of Sellers are pricing their properties strategically in the market place to Sell them not just List them and fish for an uneducated Buyer.
I have been involved in numerous multiple offers once again. The difference at this juncture is that there is a more balanced market. A 68% List to Sales ratio is back to the numbers of 2003/2004. So its not a frantic multiple offer market like we experienced at the height of July of 2007. At this time you didn't even have time to look around at properties to compare, but its to the point now where you have to move quite rapidly if you see a nice property that is priced reasonably.
We are approximately 4% of last years averages; with lower interest rates today, it bodes well for the market to continue to rise over this month will days on market coming down (as they did last month)
That's my take on it, Call me if you need some help to buy or sell a property, its all I do!!