No question it is a buyer’s market out there, but really only for the buyers who don’t have to sell. Those who do have to sell, the move-up buyers, are stuck in this bizarre financial disconnect. It’s all about math, that they apparently refuse to do. They expect a great discount on whatever house they’re buying, but they are unwilling to take a loss on the home they’re selling, even if it’s a net gain in the end.
– CNBC’s Diana Olick, in her review of yesterday’s Case-Shiller Home Price Indices.