Real Estate Finance Alerts

When will the housing market bottom? The bottom is happening now.

U.S. housing starts in August dropped to their lowest level in over 17 years. Annual 2008 U.S. housing starts will likely fall below one million for the first time in over 50 years. Home sale are jumping as home prices fall.

The ugly data is a beautiful thing!  They all show that the housing market is bottoming.  Even in some of the hardest hit areas in California. Wall Street and the FEDs are working out the problems in the financial markets, yet another sign of the bottoming process.

I wrote about the beginning of these trends in previous posts Why You Should Buy Investment Property Now and 5 Reasons You Should STILL Buy Investment Property Now.

The drop in housing starts will hasten the inventory reduction of homes for sale. Look for the inventory of unsold homes dropping to a five-month supply to signal the bottom is in and housing will be on the way up again.

Remember, all real estate is local so all areas will bottom at different times.

Todd Huettner
 303-758-7402 
todd@toddhuettner.com
www.toddhuettner.com