Those with the crystal ball continue to say the bottom is near. How long have we heard that? In a recent "reading of the crystal ball, chief economist, Mark Zandi with Moody's Economy, Inc. targeted December 15, 2009 for the bottom (Realtor.org/April 28, 2009-Source: Wall Street Journal. June Fletcher, April 24, 2009). Hmm.....One has to surmize it will all depend on your market location.
Steve Palm with Smart Numbers shows the inventory for single family homes in Atlanta declined the end of April compared to March. He noted, "...we are now approaching 2006 inventory levels." (May 21, 2009). Contrast this to a recent news cast predicting the Atlanta market might be in this a bit longer than December 15, 2009. However, it still doesn't mean you can't sell your home or that you have to give your house away. As I have mentioned in previous post, Tips on Selling Your Home, you can be very successful in selling your home, if you PREPARE and EDUCATE yourself!
Recapping April, 2009 is outlined below. Units and average sales price is down. However, if appreciable housing inventory levels continue to decline as Steve Palm noted then it may be "safe" to assume we may begin to see a SLOW upswing in home values. Time will tell....
