How goes the state of real estate?

Well...according to NAR, our inventory of homes is down from a 12 month supply in mid-2010 to a 10 month supply. That's good news. Curious point - home sales were up from 4.8million to 5.2million - the same amount as in 2000!! also the "pent-up demand" could be as high as 30million people! whew! won't it be something when they make a move! Have we seen the bottom of mortgage rates? That threat should help people get off the fence if they have been waiting and watching!!