Here in South Florida the market has been in a clear down trend for the past 24 months. Inventories are up and the closed sales are down. The one thing I have noticed in the past month is that the buyers are out looking, I have been on two showing in the past week where someone driving by was interested in a house that I was showing another customer and asked to look in. Big difference from a few months ago where open houses for 4 hour drew a big ZERO at the end of the day.
It is also common knowledge that the rental market has become very hot since the Sub Prime market took a lot of homeowners by surprise and made them homeless. I not sure if this sudden interest in homes is the group that 12 months ago were foreclosed and the credit rating looks like some of the homes out there Vacant. Time will tell, but I can say for the time being customers are out there.