It looks like the beginning of the end to one of the worst housing markets ever.

Although inventories are still rising, home prices declined only half a percent, and only eight-tenths of a percent for the past three months, according to the Real-Time Housing Market Report, jointly published by Altos Research and Real IQ, two market research firms.

Some homebuyers may be taken by surprise that prices actually rose in 15 out of 26 markets tracked monthly by the report.

The reports notes that the "downturns are largely confined to specific geographic areas of the country with four states in particularly bad shape -- California, Florida, Nevada and Arizona."

For the third consecutive month, prices have retreated in Las Vegas by over seven percent in the past three months, while Denver's prices were up 6.4 percent for the same period.

Listings rose substantially in the 10-City Composite markets, showing an increase of 1.9% in June. Inventory rose in 17 of 26 markets with the largest jumps in Los Angeles and San Diego.

Despite the rise in inventories, the average days-on-market increased only slightly from 106 to 109 in May. Eleven of 26 markets had an average days-on-market of over 100. By far, the market with the slowest rate of inventory was Miami at an average of 154 days-on-market Austin led all markets with the fastest rate of inventory turnover at an average of 72 days-on-market.

While this is only one report out of many that track the housing market, it's supported by other signs of life in housing.

We all remember how miserable the numbers were for April. Radar Logic's Residential Property Index found that prices declined overall, but rose in nine out of the 21 markets the index tracks. And, forward prices for 2010 through 2012 maturities rose, while the prices for 2008 and 2009 maturities were flat.

We'll all know more when other housing index findings are reported this week, including the Pending home sales and existing home sales indexes of the National Association of Realtors.

Meanwhile, it's okay to be optimistic.

Published: July 8, 2008

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Blanche Evans is the award-winning senior editor of Realty Times, the Internet's leading independent real estate news service. She is featured daily on the Realty Times Video Network in the "Realty Viewpoint" segment. Blanche has been named one of the "25 Most Influential People In Real Estate" by REALTOR Magazine, and has been twice recognized as a "notable." In 2005, she was named "Top Reporter Covering the NAR" by Delahaye-Bacon's. Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. To contact Blanche, email her at . For more articles by Blanche, click here.