is the worst behind us ?
have we seen the bottom? 
after yesterday's news, regarding the sharp drop in new home sales , it looked like we might have a ways still to go.
However, today's news headline "Sales of Existing Homes Up showed marked improvement with the second increase in 10 months.
Further, inventory of unsold homes also declined 1.4%. Although, Inventory levels are still high, it is the right direction.
Some economists do not think this is a rebound. There still needs to be more stabilization.
However, most of the experts agree that there are buyers out there who are keeping their eye on real estate and will buy as these excellent opportunities present themselves.
Buyers dicate the market. Clearly, there are buyers out there. As prices level off. Buyer confidence will resume and we will start to see continued stability and/or improvement.
Have a great day and thanks for reading.
I don't think we have seen the bottom in California yet. We got so out of whack, we have to come down further.
I read that today and was very happy! It used to be bad, bad, bad news for us and now it's fairly mixed. I guess we all know what happens next!
In Southeast FLorida, we have quite a ways to go. Inventory remains bloated & buyers in the drivers' seat. Articles like the one you cite remind me of the many articles I read about the bubble bursting, now it's the opposite tale.
We think (hope) we are very near the bottom if we have not yet hit it. It is great that in recent months we have started hearing good news rather than all bad.