The Good, The Bad & The Ugly...again.

More housing numbers came out today. As with most of the information coming out recently, today’s market news was a mix of “good”, “bad” and “ugly”.

First time buyers are accounting for more than 50% of the recent sales activity and “move up” buyers have virtually disappeared. The “move up” buyer will only re-enter the market once prices have stabilized on their resale and job security increases.

Words like “shadow inventory”, “long term rate increases”, and “fed actions” all point to a real lack of confidence that the market will be able to bounce back to 2006 levels any time soon. However, the increase in sales and the increased affordability are pointing toward a “bottoming out”. In my opinion, this market will begin a “healthy” recovery when distressed/foreclosed/short-sale inventory returns to a 2006-2007 level.


Here is the grim analysis from CNBC this morning…



Here is a link to a Fox Business Channel video featuring Alexis Glick talking to Coldwell Banker CEO Jim Gillespie talking about the new housing figures.

“Has Housing Hit Bottom?”

The View from the Bridge...I still can't see the bottom but I'm still looking!