Here is the official 2011 real estate market report. http://www.caar.com/files/market/02_2011/2011%20Year%20End%20Market%20Report.pdf although the numbers aren't all positive, there is reason to believe some good things are starting to happen.  For example, the pending contracts in the 4th quarter of 2011 far outpaced the the same period in 2010 and the number of homes that came on the market were significantly less in 2011 than in 2010.  This would mean the market could become more balanced should this trend continue.  Listen to Realtors discuss this report Saturday, 1/21 at 10am on http://www.wina.com. go there and click listen live