Experts say home prices on Long Island are likely to fall further because sellers are dreaming when it comes to asking prices.

More than 20,000 houses are for sale in Nassau and Suffolk. The average selling price for a home in April dropped $35,000 from March, or 8 percent. Home prices have plunged nearly 28 percent from one year ago.

Realtor Fern Karhu says while the average asking price for a Long Island home is $658,000, the average selling price is much lower ? $397,000.

Dowling College economist Irwin Kellner says asking prices need to come down even further.

?The fact remains that housing prices are still too high relative to household incomes and to get down to the point where buyers are willing to step off the sidelines, they need to go down at least another 10 percent," says Kellner.

Industry analysts say seeing the lowest mortgage rates since the 50s and improved consumer confidence could give the housing market a boost this summer.