In some ways, you could read this report http://caar.com/files/market/00_2010/2010%201st%20Qtr%20CAAR%20Market%20Report.pdf and see some signs that the market is improving.  Yes the 1st quarter of 2010 was better than the 1st quarter of 2009 in number of homes sold and we have now seen two quarters of improvement.  The bad news remains that prices still face downward pressure due to the amount of homes currently for sale. Until the inventory gets reduced by at least 33%, there are just too many homes for sale vs the number of buyers in the market place.  Nothing on the economic horizon gives us reason to think the housing market will rebound over the course of this year.  Expect things to stabilize and for the 2nd quarter to once again be better compared to last year.  Year over year improvement over The 2nd half of the year remains in question because the 3rd and 4th quarters of 2009 were better than the smae quarters in 2008.