Originally Posted by
upside_umop
Minimoke, I would have thought you wouldn't post this. Missing the boat? Nahh..lets take a closer look at those two figures stated.
9.3% over the year is 0.78 so circa ~0.80% per month, right?
So, for housing to have stabilized, this 9.3% per year would have to go to 9.3%-0.80%=8.5% to show any stabilization in prices.
Anything above 8.5% would indicate further month on month declines, and anything less would indicate month on month gains. Surely you can establish what has happened in this case!
9.2%>8.5% --> Housing market still not in good shape.
Try telling an average first home buyer who bought 16 months ago, that your sorry for advising them to buy, because they just lost another ~$2500 (0.80%*330,000) on their house this month, as well as around $40k in preceding months!
Not a good news story I'm afraid.
I will admit there are some good signs, however, most notably lack of supply side.
End of story is, house prices are still declining.