Take a look at the bright/dark side

Wondering how real estate news this week plays out in the housing recovery? Here's our take on the bright side versus dark side:

INVENTORY

Bright side: Foreclosures account for one in three California resales. Hey, at least somebody's buying up that inventory.

Dark side: In March, the months' supply of new-homes for sale rose about 32.5 percent compared to the same month last year. OK, so this inventory is not moving yet. Ouch.


EXISTING HOME SALES

Bright side: More than half of folks in a survey from AOL said they believe home ownership is still attainable. Surveys can't save the housing market, but at least some folks are still optimistic about conditions.

Dark side: The March sales rate for existing homes showed a 19.3 percent drop from a year ago. Median resale price fell 7.7 percent. No bottom here, folks.


PRICES

Bright side: Home prices rose 0.6 percent nationwide between January and February, according to OFHEO. Prices were up in seven of nine Census tracts, with prices falling in only the Mountain and South Atlantic tracts. The national scene seems less scary by this account.

Dark side: Home prices fell in 36 states during the three months ending in February, while 28 states saw year-over-year price declines, according to by First American CoreLogic. What we have here is a majority.

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