USA real estate still declining

The American real estate market seems to be durably hit by the crisis that has affected credit and financial markets since July 2007.
Banks have hardened their loan terms and many Americans looking to buy property are forced to abandon their project.
According to the NAR (the national association of real estate agents), older house sales dropped in January by 0.4% in relation to December. In one year (from January 2007 to January 2008), sales numbers have collapsed by 23.4%!
The average price of houses for sale dropped by 4.6% in just one year. Meanwhile, between December 2007 and January 2008, the number of houses on the market increased by 5.5%.
Florida is the state hardest hit by the recession with a roughly 12% drop in prices in Miami and Tampa.
Foreclosures have increased over the past few months. They have reached a very alarming 1.3 million in 2007, which is a 79% increase compared with 2006 (source: Realty Trac).