The national housing market is beginning to show some positive signs. 

The National Association of Home Builders/ Wells Fargo housing market index climbed five points over the past few weeks.  This is still considered to be a record breaking low, but it is the highest this index has been since October. 

“This is a very encouraging sign that we are at or near the bottom of the current housing depression,” says David Crowe, chief economist for the Washington-based trade association.  This index hit an all time low in January with increasing layoffs and the worsening of the current US economic state.

Builders and Real Estate Brokers are beginning to see increases over the last few weeks.  “Some of the most favorable buying conditions in a lifetime are now in place, and they are drawing more consumers back to the market,” said NAHB Chairman Joe Robson, a homebuilder from Tulsa, OK. 

Tax credit incentives from the Obama Administration are also drawing a number of first time homebuyers to the market.