Have Housing Prices Bottomed Out?

I agree Charlene. Here in Northern Michigan seems like last fall the flood of new listings and price drops started declining and now most of the new listings are not Foreclosures so I think we are at least bottomed out. Looking forward to a great spring once the weather warms up.

I agree however if the jobs situation does not come back we will have a double dip.

Jobs need to happen. We did see an increase in property values in the Dallas Fort Worth area of 3%...

I've always thought that Case-Shiller statistics were too old to be meaningful to those of us in the trenches. For the most part they have a two month lag. I'm optimistic about the market because I see the real market in the Seattle area being only traditional sales now. Where a home owner has purchased more than for or five years ago and has cared for their home, chances are its value will be up were it to come back on the market now.

I worry more about interest rates going up and the end of the $8000/6500 tax credit as being significant impactors around here. Only time will tell that. But as always, if a person is in a life changing situation, death of a spouse, divorce, triplets just born, and a slew of others, it is probably the right time for them to sell and/or buy regardless of statistical reports, interest rates or other factors.

Jobs are still a major issue in my area, but I do feel like prices have bottomed out here.