During the past few months, a “growing consensus has emerged” among many industry sources that housing has begun to stabilize, notes the real estate research firm Radar Logic in a release that escaped my notice just prior to issuing my latest newsletter. Said the firm:
“While it is too soon to declare a recovery, we see evidence of stabilization from a number of sources, which may indicate the beginning of a return to normalcy in housing markets.”
It was a month and a half ago, that Radar Logic reported signs of stabilization in the form of a flattening of the 25-MSA Composite, which indicates prices. The firm speculated that prices had, at least temporarily, halted their free fall. Measured in price per square foot, a distinct break in the 2008 trend of rapidly declining home prices is evident.
The chart below Continue reading