Is That Daylight?

New report offers glimmers of hope for the housing market.

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Radar Logic's RPX Monthly Housing Report for January 2008, released today, includes some encouraging findings:

• For January 2008, of the 25 Metropolitan Statistical Areas (MSAs) examined, two residential markets (New York and Charlotte) show price increases, two markets (Milwaukee and Philadelphia) were neutral (+/- 1%) and 21 markets experienced price declines on a year-over-year basis.

• However, since December 2007, seven markets show price increases and two other markets, although down, show relative improvement.

Full report is here.