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The National Association of HomeBuilders reported that their index of home builder sentiment stayed at the same level this past month and that marks a three month level pattern. Does that mean we’re seeing the first sign of a “bottom” in the new home market? Or is it a temporary?
True signs of the Bottom: when the media reports, as it did in 1994, that home prices will never go up from here.
You know when the Media has it wrong, as it generally does (blogosphere aside) then you are home-free.
Considering the season, it may be that it’s temporarily bottomed out. With the coming rate adjustments in 08 and 09, I’d think that the upsurge in defaults will once again affect the market negatively.
one quarter does not make a trend.