I'm not a realtor, but I hope you won't mind if I share my thoughts. I think the housing bust is long from over in the US. The number of houses in, or approaching, foreclosure is still huge, creating a glutted market, with supply exceeding demand. And, at the same time, household income is down except for the super-rich ($10M plus net worth), so demand, ability to pay, and ability to get financing remain weak, as well. While we may see local or temporary ups, I think these big-picture issues will continue to shape things for a decade or more.