Omaha home sales fell 14 percent between May 2008 and May 2009, and the median sale price slipped 8 percent to $160,950.

The information comes from the Associated Press-Re/Max Monthly Housing Report that was released Tuesday.

Dave Egan with NP Dodge Real Estate says the recession has had less of an effect in Omaha than in other parts of the country. However, he adds knowing someone who has been laid off makes potential buyers a little more careful and more likely to stay put.

Egan says he's encountered a few first time home buyers who had unrealistic expectations of home prices because of what they'd heard about national trends. Some buyers thought Omaha home prices would be down as much as national ones.

He also said he's seen some problems with appraisals, mirroring a national trend that the National Association of Realtors warned could short-circuit a recovery in the housing market.

In two occasions recently, Egan says the appraisal price for a home was much lower than expected. The seller in one case was able to reduce their price to match the appraisal but the other sale fell apart.