Slight improvement in real estate

Today the National Association of Realtors said their pending sales of previously owned homes index increased 6.3% in April compared to March. Analysts had projected no change in the index. Home sales seem to have picked up in areas where prices have dropped the most.

This story is almost identical to an article a week or two ago which described increased home sales in areas hardest hit by foreclosures.

It's going to take a while, but as home prices continue to sink, demand will rise in most areas. Prices will start to increase when inventories shrink to historically normal levels.