New housing development is up for the first time since November. According to the Commerce Department this is a signal that the housing market is beginning to re-cooperate although many still believe there worse isn’t over.

Some believe that the new housing development has a lot to do with the drop in mortgage rates, and the new tax credits for home buyers (The federal program, which offers a $8,000 tax credit to first-time home buyers, is set to end on Dec. 1). “New home buyers have been helped into the market,” said Celia Chen, a housing economist at Moodys.com. “I think they’re building in advance of when that tax credit expires.”

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