This is a good, very short (if a little dry) video from DOW Jones on an issue that is confusing to many: What is meant, exactly by a “bottom” in housing.
The short version is that activity may be bottoming now, but prices and activity rarely bottom together, so the price side of the housing market – in my view the part that probably matters most, may languish for some time.
Also, don’t miss this piece from the WSJ which recounts an emerging tale of two markets:
Housing is fast dividing into two markets: Sales of low- and moderately priced homes are picking up and values have stopped falling in some parts of the nation. But on the upper end, sales remain mired in a deep slump and price declines are expected to accelerate.