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The big question everyone's asking now is "Has the market slowed?" The answer is most likely a "yes." I'm not sure that's cause for alarm, especially concearning Pittsburgh. I was reading an article concearning Philadelphia the other day. Those quoted didn't expect the price drops many in overheated markets like Boston and Washington DC fear. Rather, homes are expected to stay on the market longer in Philadelphia.

Pittsburgh is frequently noted as being a "safe bet." It's also viewed as "undervalued." We haven't experienced the frenzy here folks on the coasts have. Prices in most areas haven't doubled or tripled in the last few years, rather have kept the pace at around 5 percent a year.

In my own neighborhood I've noticed the upper end homes have been on the market for quite a while, while the lower end has kept pace. With more to choose from, the average time it takes to sell a given house should increase.