Notice anything different?

Watch the employment numbers. When they improve, housing will improve. It's a while yet.

Brian and Marie: I've noticed lots more activity here in Des Moines, IA. Prices are still faling but unit sales are on par with last year. I've got more people I'm working with. Best to you in Frisco!

Hi Brian and Marie,

In a nutshell, the answer is YES is many ways.

IMHO, as for unemployment, I think that will most likely lag a year or two behind the initial recovery begins. I see it more of an issue of confidence with the other 88% (or so) of those working.  We are DEFINITELY seeing a difference in my area of So Cal, top many multiple offers not to see the turn.

We see it every and single day in our office!

There is definitely some more activity in our area.  It is in certain price points mostly 150K and below.  But a great home priced right for the market will always sell. 

Hi Brian and Marie,

We live very close to "La La Land" and are seeing some pretty inexplicable things here in Orange County CA.  For example, we have an incredibly credit worthy buyer who wrote 42 offers (many above asking price) before getting into escrow for a detached home priced at $450,000.  That's how hot the entry level market has become here.  Cash buyers were eating his lunch.

We're a very different market from yours in that we're coastal and there are buyers from literally all over the world looking for a "deal" here.  Apparently they're finding them.  The average market time for Orange County was 2.69 months as of 7/23/09.  For detached homes priced $250,000 - $500,000 that time was reduced to 1.12 months.  The luxury coastal homes ($2mm+) are languishing with 10-24 month market times.  Although foreclosure (REO) sales are selling within an average of .54 months (16.2 days) and other distress sales (usually short sales) are opening escrow within an average of 2.01 months.

Try explaining that to a buyer...

I agree with Ann, that employment reports are likely to govern our futures.  That and the recent moratorium on foreclosures appears to have created an artificial reduction in our inventory levels. Let's see what happens come September.

Activity is increasing and inventory is decreasing.  Inventory of homes $250 to $400K is getting pretty slim in my market area.  A year ago, a buyer could expect to see a list of 30-40 homes in the 300-375K range, today, there are maybe 5-10.

I've noticed a big difference since February 2009.  Things have been very busy in Austin!

Here homes at the low end (below the median?) are selling well with very little inventory and firming prices despite nationally high unemployment.  But higher priced/larger homes are a half-mil a dozen.

Brian I echo your feedback, less houses for sale on market and the "nice ones" priced right are selling! I've been busier than expected too.  Goes to show that price & condition are key!

Brian & Marie - Hopefully its not JUST the tax credit. Perhaps this is a good sign that are market will be changing directions.