Independent (of me) report that home sales are on the rise

Here's an AP story stating that sales of existing homes rose 5.1% last month. That's good news, and I'm happy to see that I'm not imagining things. I've been saying that we've been at the bottom now for awhile, and I've been seeing buyers coming out in droves. Finally, the mainstream press is seeing this, too.

Here are a couple of quotes: "If the economy stabilizes around midyear and financial conditions improve, then sales will probably begin to slowly increase as buyers step back into the market," wrote JPMorgan Chase analyst Abiel Reinhart. "An important reason for this is that affordability has already increased sharply, both as a result of lower prices and lower mortgage rates."
And: "However, in a positive sign, seller asking prices are starting to rise in places like San Diego and Orange County, Calif., where declines have been severe, said Lawrence Yun, chief economist for the Realtors. That could be an early indication that prices are stabilizing in the most distressed parts of the country."