Below is a 15-year depiction of median sale prices in the U.S. Housing Market*. The blue line shows prices, the shaded columns highlight the last 15 "spring markets". Take a long look, draw your own conclusions, then I will share mine below…
Conclusion #1: There has been no “housing meltdown”, but a bubble and a correction. This is approximately where prices would be today if there was never a bubble in the first place.
Conclusion #2: Home prices rise every spring. Demand is stronger, which puts upward pressure on prices. They flatten out or come down in the fall. This happens every year. It's as predictable as the weather.
Conclusion #3: Home prices have been bouncing along the bottom since 2009.
Conclusion #4: The housing market makes perfect sense when you stand back and get the proper perspective.
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*Chart data courtesy of Zillow.com