Filings of foreclosures are slowing in the largest metro areas, but according to experts this is not a sign of healing. Most of these metro areas are in States like California, Florida and Arizona, where many people still owe much more on their house then it is actually worth. It will take a decent amount of time before there is a significant change in the housing market.

The housing market in Southern California showed signs of improvement in March with sale prices increasing. It helps that people are rushing to buy before the federal tax incentive expires, that along with low interest rates make it a good time for buyers. The prices of new and pre-owned homes jumped 14% last month, which is a reassuring increase for a market that has faltered so much over the last few years. Though many experts are still mixed on whether this is a sign of the market improving, as many believe that more foreclosures are on the way.