The National Association of Realtors has come out with their 1st quarter sales numbers for the country and they are rough. Very rough.
But there is good news out there. The worst hit markets have all seen sales volume increase even though pricing is still negative. And we need to remember that the numbers are for January, February, and March. That is before the spring sales actually do pick up.

The National Association of Realtors said Tuesday that median sales prices of existing homes declined in 134 out of 152 metropolitan areas compared with the same period a year ago. Prices rose in the other 18 cities.

Nationwide, sales of foreclosures and other distressed properties made up about half of the market. Overall, sales dipped 3.2 percent from the year-ago period.

“I think we’re near a bottom, but we’re not there yet,” said David Resler, chief economist at Nomura Securities. While prices could hit bottom as soon as this summer, he said, they are likely to remain stable and start edging higher slowly.

But the nascent signs of recovery in the housing market could be short-lived if employers continue to lay off workers in bulk.

Home sales fell in all but six states — Nevada, California, Arizona, Florida, Virginia and Minnesota — where buyers have been able to snap up foreclosures at a deep discount. Sales more than doubled in Nevada, rose 81 percent in California and grew 50 percent in Arizona — signaling that the worst may be over for those distressed states. via MSNBC

Related posts:

1. NAR 1st Quarter 2009 Numbers Sobering But There Are Silver Linings In Them
2. Top 10 States For Foreclosures for February 2009
3. Top 10 States For Foreclosures in January 2009
4. Sales Up, Prices Down For December 2008
5. February U.S. Home Sales Climb 4.7% in February, 2009