Flashing lights seen on a craft hovering above the neighborhood

I looked out the window at what i thought was a plane, but it was going too slow. Eventually it stopped and went backwards before hovering. It started to go back the direction it was going, but then it started to descend, still flashing red and white lights the whole time. I lost sight of it when it dipped low, obstructed by a roof. I tried to record it, but it was too dark outside and the object was too far away for a good photo.