About Have the home prices finally hit the bottom? The question arises on a regular basis and the answers seem to be as reliable as a weather report. But remember, people have been predicting the bottom from as long ago as 2008 and we still don’t know for sure.
The Reno-Sparks Realtors are fairly sure we are bouncing along the bottom. But, notice that the prices have dropped in the last few months, even while the sales were significantly higher.
REReno recently questioned if Reno home prices had hit bottom yet.
Mike Shedlock said that the housing price bottom will not be this month, but that’s as certain as he gets. He has gathered a lot of information with charts and graphs that compares other situations to where we are now.
We should be aware that although the economic situation is world wide, that each locality has its own market. Reno was earlier and more severe that many parts of the nation.
We can always hope.