Home Prices Hold Steady, But Sales Tumble

This was the header in the Scottsdale Republic on Feb. 13th.  What does it mean?  To me it means that Buyers have a perception that prices are still "high" and Sellers are ":sticking to their guns" by keeping their prices up.  Sounds like an impasse to me.  Who should make a move?  Should Sellers reduce their prices or should everyone just wait until Buyers decide the time is right to make an offer?  According to the article, prices for existing Scottsdale area homes and condos were virtually unchanged in January from the previous year but sales fell 31%. What do you think?!