A very commonly asked question is "Has the real estate market stabilized?"  The answer, according to a brief article from the National Association of Realtors magazine, is a resounding maybe.  In a Reuters news release, the following opinion was offered.

The Worst Is Over, Some Experts Conclude
With housing recovering slowly, most economists predicted in a recent survey that it will take at least five years for average home prices to climb back to the levels they commanded in 2006.

This year, some hard-hit areas may see another dip, but properties values will most likely rise.

"Softness in the summer months will be followed by firming conditions and momentum as the year unfolds and the economy strengthens," says Robert Denk, an economist for the National Association of Home Builders.

Source: Reuters News (08/12/2010)

This may be the first good news the consumer has heard about the real estate market in a long time.  In the Tampa Bay area, the general expectation is for additional price drops, although not nearly as severe as the last two years.  It is even possible that there is a light at the end of the tunnel that is NOT an oncoming train.