If you are considering buying or selling a home, you need to be aware of what is going on and the data that is out there. Unfortunately you will not get it from your average real estate agent nor from the media. Don't make an uniformed decision that could cost you mega $$$$.

Here are two quick reports:

Foreclosure Wave Gathers Momemtum...Check out the graph that goes with it and see the ascent of delinquencies and foreclosures.

Home Prices Continue To Fall has an interesting quote worth considering

"Then again, asking a Realtor whether it's a good time to buy a house is a little like asking a used car salesman whether it's a good time to buy an automobile. Let's not forget that another economist for the National Association of Realtors, David Lereah, was the soothsayer who published a book titled "Why the Real Estate Boom Will Not Bust - And How You Can Profit from It" a few months before the housing bubble started to burst. He is, to put it delicately, no longer employed by the association."

Based upon the fact that banks are keeping houses off the market and are delaying foreclosure proceedings leads me to believe that they are hoping that some hype will get rid of a lot of inventory and drive prices back up some and then they will release more foreclosures to the market hoping to capitalize on higher prices...which of course will just drive them right back down again, but the bank might make a little more money this way.