PINELLAS COUNTY, Fla. (WFLA) — Housing prices are dropping across the nation, but some real estate experts say the drop in costs may not make it any easier to buy a home.

Earlier this year, houses were selling like hot cakes.

“Five months ago, they had 15 offers in two hours,” said Janice Lockridge Williams, a St. Pete Real Estate Consultant.

Now, sellers are slashing prices as home sales decrease.

“Prices are going down because of the fact that fewer people can afford to buy it.”

While some cities are seeing homes sit idle for several months, Williams said that’s not the case in St. Pete.

“No, because we didn’t have a lot. St. Pete was so devoid of houses it was crazy. What I have seen already is houses that didn’t sell in a day.”

Prices of homes specifically in the Tampa Bay Area spiked more than 20%, according to data from Redfin. That’s more than the national average. Although homes becoming a little cheaper seems like a positive thing, Williams said the housing market is still challenged due to the Federal Reserve raising mortgage rates.

“When they increase the interest rates, your payment goes up. Yes, the houses are going to go down,” Williams said. “They have to, but is that going to help buyers? No. That just continues to shrink the buying pool.”

If you’re looking to buy a home during this time, experts say to rethink your budget, find a local agent who knows your market, and use technology to help you look at your options.

William also advises people to go ahead and buy homes now while the prices are a little lower, because it doesn’t seem like interest rates will go down anytime soon.