While the current economic outlook remains gloomy and the housing market is still weak in many parts of the country, a new report by Moody’s Economy.com suggests that there are some positive signs that the conditions in the housing market could improve later this year.

According to the report, “Housing in Crisis: When Will Metro Markets Recover?”, in the three years since the market began correcting, “inventories are flattening, prices are coming back down to earth, and sales are approaching stability.” However, the outlook hinges on stronger action by U.S. policymakers. Even with further government intervention, the recession will keep the housing market from fully recovering until the end of 2009.

Source: Moody’s

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