Has the Housing Market Stabilized?

Day after day I read articles and blogs on the housing market and what researchers are predicting 2010 will look like. `And day after day it's something new. Today's most popular topic... has the housing market stabilized? Is danger still lurking around the corner? From my understanding, the inventory of homes for sale has fallen across the nation but we will most likely see another cycle of foreclosures coming through soon. The job market does not seem to be getting stronger and many families have fallen ever farther behind on the mortgage payments. According to James Hagerty of the Wall Street Journal, "Jobs and mortgage woes will help shape the housing market this spring, the busiest time of year for home shoppers. Without a return to job growth, it will be hard to sustain demand, and mortgage defaults will eventually lead to foreclosures, dumping more supply on the market." With this being said, we are all hopeful that Spring will bring a strong selling season and buyers will beat the April 30th First Time Home buyers tax credit deadline.