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Has Housing Bottomed?

There is a slew of new housing data out over the past seven days.  Earlier this week I published an article at TheStreet.com (here) concluding that the NAR (National Association of Realtors) existing home sales data through September shows sales for 2009 actually running just under 2008 levels, but prices trending lower.

Today another article at TheStreet.com (here) reviewed the new data from Case-Shiller (existing home sales through August) and the September data for new home sales from the U.S. Census Bureau.  The conclusions in this article were based on chart analysis using trend lines and moving averages.  The only clearly positive data for prices is Case-Shiller (through August).  If there are two more months (September and October) with price increases in the C-S Index, we will have a clear signal for higher prices.

Countering this view, Andrew Butter has published an analysis concluding that the Case-Shiller Index may be rolling over (here).