But they're still counting on this year's Parade of Homes to bring out the buyers.

"We've certainly seen a slowdown and we've been impacted by what's going on with the credit crisis,” said Wakefield Development’s Dawn Forrest.

"There's no question that we are in a little bit of a down market and sales have slowed across the board for us,” Scott Whitescarver, of BB&T, said.

Those who make a living on real estate are hopeful that good back-to-back news headlines will get things going. Friday, Congress passed the economic stabilization act, aimed at getting more money flowing through the financial markets.

"We certainly think that it's going to help the liquidity crisis, which should help lead to better rates, improved rates moving forward,” said Whitescarver.

Couple that with this weekend's kickoff of the Parade of Homes, where buyers could find some real deals.

"We definitely don't want to be slicing and dicing prices ridiculously below market value, but at the same time I think there is room for negotiation,” said Forrest.

The Triangle housing market, although down from recent years, has remained stronger than most. Wakefield Development's Renaissance Park in South Raleigh is a good example. Forrest says they’ve had 125 sales so far this year.

There are more than 1,100 homes planned for Renaissance Park, in addition to a retail area of shops and restaurants that have not been built yet. The developers have a lot at stake. And while they admit things have been slow, they're cautiously optimistic that it's about to turn around."

"We anticipate a strong spring for 2009 so that's what we're gearing up for,” said Forrest.

And Whitescarver agreed.

"I think as long as rates stay low, we'll see housing pick up as we move forward, thanks in part to this bailout package,” he said.

BB&T rolled out its mobile bank bus for the parade, where mortgage officers can pre-quality buyers on the spot. They say there's still plenty of money to lend, and they want people's business.