levin70

Has Housing Bottomed Yet?

Has housing bottomed?

Depends on the market segment you are talking about. For houses within 2x and 3x median income, generally between $100K and $150K, there is some solidity to the concept that prices and sales have firmed to the point where the bottom, if not here already is definately forming. Go anywhere near $500K and up, and the answer is definately NO. Whereas inventory (outside of pending foreclosures) is trending down nicely at the $100K to $150K level, its still ballooning at $500K and up.

Hope this helps