"Home sales have hit the brakes" - US

Home buyers and sellers must break stalemate for sector to move beyond post-boom doldrums.

"The housing market isn't dead, it's stuck.There's a standoff between home buyers and sellers, and the health of the 2007 housing market may depend on who blinks first."

"He and others say it's more of an irrational resoluteness, with buyers and sellers staring each other down: Sellers are clinging adamantly to too-high prices, and buyers are equally adamant about getting a bargain."

"As that impasse has formed, home sales have hit the brakes." Full Article.