NAR Predicts Flat Existing Home Sales Before Recovery

The National Association of Realtors® foresees a flat sales market before a recovery during the second half of the year. Many locations have seen their correction but factors indicate they are in the trough of the trend.
"The volume of existing-home sales is expected to hold steady through late spring, with a gradual recovery during the second half of the year as the mortgage situation improves in high-cost areas..."
Not all markets fit this trend exactly but many will see it soon and overall the national trend is improving, according the the NAR report.

Specifically in Southern Nevada, Las Vegas Realtors have seen a shift in market activity. A market report yesterday gave a short term view into latest valley stats. Future months are expected to follow suit pending some unforeseen issue.