For the third straight month, at least 15 of the nation's 20 largest real estate markets showed relative monthly improvement in May 2008, according to the S&P/Case-Shiller Home Price Index. I use "relative monthly improvement" as another way of saying that markets are "less worse than they were" and that's good for the housing market (although you wouldn't know it by looking at the headlines). 
 

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Opportunity of a Lifetime for first- time home buyers. This one time only chance only lasts until 7-1-09. 

First-time homeowner tax credit

The law will extend a tax credit of up to $7,500 to first-time homebuyers. A first-time homebuyer is defined as someone who hasn't owned a home in three years.

The tax credit is for 10% of the purchase price, up to $7,500, but phases out for higher-income

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