We're seeing shrinking builder profit margins, and more and more incentives being offered to attract buyers. That's an indication of a shift to a buyers' market.
The median home price in Boston fell 4.5% over the last three months. In Washington D.C. prices were flat over the last 30 days, but down 5.4% over the last 90 days. Realtors outside Manhattan in New York City report a shift to a buyer's market.