Don't break out the party hats yet, but here's something to grab hold of about the beginning of the beginning of the end of all this: It's from a quarterly review by PMI Mortgage Insurance in Walnut Creek:
"For the past several months, the (data) show that prices, while still down by double-digit
rates from year-ago levels, aren't falling any faster, and may be falling just a tad slower. This may be the first sign that the worst of the housing recession is finally behind us, but the continued declines in prices makes it clear that the downturn is not over yet."
For those who like reports here's the full outlook on the housing market from PMI's chief economist. The full Housing Mortgage Market Review is posted here.
And here is video by chief economist David Berson to summarize it all.
"For the past several months, the (data) show that prices, while still down by double-digit
rates from year-ago levels, aren't falling any faster, and may be falling just a tad slower. This may be the first sign that the worst of the housing recession is finally behind us, but the continued declines in prices makes it clear that the downturn is not over yet."
For those who like reports here's the full outlook on the housing market from PMI's chief economist. The full Housing Mortgage Market Review is posted here.
And here is video by chief economist David Berson to summarize it all.
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