The real estate market has continued to trend in a positive manner, but I am still skeptical. The numbers are encouraging compared to where we were 12-16 months ago, but they are not improving in a rapid enough fashion to instill confidence in consumers. Prices have worsened slightly, but other information shows improvement. Days on the market(how long it takes to sell) and market inventory(how many months of supply) are all down. This would lead you to believe that there are more buyers and supply is moving. In reality, inventory is dropping because less people are selling and we are finally selling through some of the supply that has been listed for some time.
See my full blog post complete with local statistics here.