Believe it or Not - The Housing Market Bottomed Out in 2009

September 19, 2011


As I drove to work this morning I was listening to an interview on KNX radio. The interviewee was reporting on a news release, apparently from Case-Shiller, about the housing market. I perked up my ears because I have generally found Case Shiller reports to be pretty negative about the housing market. This report (which I haven't found in writing yet) was positive. Well, perhaps not too positive, but when a report comes out that states that the housing market in 20 metropolitan areas (California included) actually bottomed out in 2009, I am amazed. We are now and have been, bouncing along the bottom and no serious declines are forecast.


Amazing, since when you google "Case Shiller" the articles suggest a further decline of 4.3%.


I have attempted to post the numbers that are reported through the CRMLS so that readers can judge for themselves what is happening. I agree that it looks like a bottom has occurred and that the market is stabilizing along that bottom.


The word this morning was "buy now". Low prices and low interest rates present a great opportunity.