Is the second derivative for house prices turning positive?

Asking prices for homes in England and Wales fell an annual 7.3 percent in April, the smallest drop since January, property Web site Rightmove said on Monday 20th April.

That follows an annual drop of 9 percent in March and adds to evidence that the pace of house price falls may be starting to moderate as the flow of credit picks up after coming to a virtual standstill last year.

There remains a big gap between initial asking prices and eventual selling prices, however, so the evidence must be taken with a pinch of salt. If asking prices are slightly sticky on their way down this may be clouding the fall.

Find more here: http://uk.reuters.com/article/personalFinanceNews/idUKLNE53J00L20090420