Yep. Shadow inventory almost used up. I see it on my block: 50/50 new owners to renters in single-famly. But those moving in are fixing up. My area is getting better, but gated community, nice amenities, nice area.
This whole housing fiasco is just the latest example of our government at work. Private industry does almost everything better and cheaper than government. They stick their noses into industries where they don't belong and basically cause the biggest economic SNAFU since the depression.
No double dip in Northern Utah real estate. In my opinion the media is having some difficulty finding something to write about now that the recession is over and housing recovery is well on its way to normal. Employment is getting much better as people who want to work are working. The housing news is all good and the media does not know how to report good news so they continue to milk any minor blip in recovery to keep selling lies.
Signs of gradual recovery are showing up in some US markets. Most economists are cautious about saying we are at bottom and economic indicators say we are not there yet either. A Bloomberg article just said today that "limited access to creddit and persistent foreclosures still weigh on housing, adding to concern it will remain a source of weakness for the world's largest economy."