Real Estate sales activity seems to have increased now that the snow has melted.  This weekend is supposed to be spectacular so we anticipate lots of realtor showings and consumer traffic through open houses.  The interesting aspect to all of this is that this positive bump in the market might be short lived.  The $8,000/$6,500 Tax Credit will end on April 30th and there is increased upward pressure on interest rates.  Recently, FHA announced tightening of their guidelines.  This link http://www.cnbc.com/id/15840232?video=1444384172&play=1 is a concise explanation by FHA Commissioner David Stevens.  Although the reasons for these changes make sense, it will certainly make it more difficult for 1st time buyers to find a mortgage that will allow them to purchase.  the inventory of homes remains high and with fewer buyers, home sellers will need to continue to be aggressive with their price meaning a continued but smaller reduction in median prices for the next few months.