More about the Bottom

I last wrote about the likelihood that we may be at or very near the bottom of the decline in home prices.  I have come across some more evidence in support of that possibility.  HousingTracker reported on February 6th, that February listings for the 54 studied metro areas declined 21% from the same month last year (click here to see the source).   The Tampa area shows an even greater decline in inventory at 32%.  This is very significant because the law of supply and demand will come into play: as inventory declines, prices will increase.

Here is a graph of the data from CalculatedRiskBlog.  It shows data from both HouseTracker and the National Association of Realtors data.  As you can see, the two sets of data track fairly well with the HouseTracker data being more current.

Remember the old adage: buy low, sell high. Let’s get started finding the right home for you before prices start their inevitable upward march.  Give me a call – (863) 698-2345.