Housing numbers spark mostly confusion, some hope

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Even for people who work in the real estate markets every day it is hard to tell what way the housing market is heading. New-home construction held steady at almost 11 percent in March, according to government data released yesterday. But foreclosures are up, with nearly 804,000 homes getting a notice in just the first three months of this year. That's a 24 percent increase compared to the same time last year. But other analysts are seeing hope and some first time homebuyers are finding themselves in great positions to buy.

To help us parse the numbers we turned to two experts: Behrooz Shahidi, a realtor in New Jersey, and Michael Corkery, housing reporter for The Wall Street Journal.
"There certainly was just a wild amount of speculate building during the housing boom, and the air has come way out of that bubble. Most builders won't start a home unless they've got a sale."
—Wall Street Journal writer Michael Corkery on housing changes