Even Springfield can't weather this economic storm. The latest numbers available show home sales are down 18.5 percent from last year and more than 30 percent from 2006.

While home prices had been holding steady, they're now down. The average selling price fell 5 percent since last year.

Despite the dismal statistics, the Greater Springfield Board of Realtors is looking at the bright side.

“Our numbers look good compared to other states and Springfield numbers are excellent,” said Doug Andrews, president of the GSBOR.

Members of the GSBOR met with Federal Reserve Vice President Howard Wall, who not only thinks Springfield is driving the positive economic numbers for the entire state but also that the real estate is likely improving.

“Around March 15, we should have bottomed out,” said Andrews.

Because of the lag in compiling those numbers, we won't know for sure if we've hit bottom until the end of September. But the GSBOR is already banking on it -- complete with a new ad campaign titled "It's a great time to buy."

“With economy looking good, interest rates near all time low, availability of a financing program, it's a great time,” said Andrews.

New home construction is also taking a hit nationwide. In a new report, the government says construction of homes and apartments fell in July to the lowest level in more than 17 years. In Greene County, housing starts are down 37 percent this year compared to the same period last year.