No!  In fact in May of 2007 vs May of 2006 the average sold price of a home was up .80%.  However, the average days on market was up 90.70%, from 43 in May 2006 to 82 in May 2007.  This is the reason why people believe the market is slowing down. 

Why is it taking longer for homes to sell?  There are several factors including higher interest rates, price to income levels, but the main reason is over pricing by sellers and Realtors.  Even though the average price went up by .80%, the average list price is up 2.33%.  As a result of overpricing, it takes longer for homes to sell.  And in the end for the overpricing seller and Realtor, buyers are negotiating harder in 2007 vs 2006.  The average negotiation in 2007 was 96.32% of the list price vs 97.78% of the list price in 2006. 

One final fact...20.74% less homes sold in May 2007 vs May 2006.  This means there are less buyers for the sellers.  Sellers need to create more value and work harder at staging their home for sale in order to capture the buyers.  Amazingly, even though almost 21% less homes sold, prices went up.  Howard County certainly is a desirable place to live in order to have prices rises with less demand.

If you are considering selling, the key is to do your homework, price correctly and hire a powerful agent who will market your home effectively.  If you are buying, make sure you have an agent who knows property values, pricing and current market conditions.