This map shows the job market conditions in different regions in the country. As you can see, the South seems to be in the best shape while the West is hurting, big time. I suspect that the real lines are not drawn quite as sharply as they are displayed. I would further suspect that rural areas are not hurting to the degree of urban areas.
But, this tells me that any recovery is still a long, long way off. And with this information, do you think housing prices are likely to increase significantly any time soon?