How have housing prices been faring recently?

It certainly depends on your market.  We're from a small town in Texas where prices have been slightly up but mostly flat for years.  My wife's job is moving us to Austin.  We went house shopping this weekend hoping that prices would have softened there. 

No such luck.  While it seems like there is a lot of inventory out there, the prices are still holding way higher than we'd like and up from last year as far as I can tell.