I've gotten a few emails from potential Buyers and Sellers, and they all want to know, "What do you think of the market?"
I think they should forget about the market, and live their life.
Do you want to sell your house? Price it appropriately, get it sold, and move on with your life. For whatever reason - you've outgrown it, it's too much for you, you don't like your neighbor next door - all those things aren't going to be put on hold until the market "recovers." Do your research, figure out your next steps, and then take them.
Do you want to buy a house? Figure out your price range, what you want, and then go buy one. Don't pay rent for the next two years so that you can time the "absolute BOTTOM" of the market. Sit on your own back deck this summer and pay off your own mortgage, rather than someone else's.
Deal with the reality in front of you. Live your life. Move forward. Make yourself happy.
Don't put your life on hold trying to "outsmart" the market. Be happy, rather than "clever."