Here’s some good support for a bottoming in the housing market. When the smart guys at Pimco believe it’s safe to go out and buy a home it’s probably a good indication that we have hit a bottom…or are pretty darn close. In the link below there’s a great interview with one of the financial managers at the world’s largest bond fund. It is certainly worth a listen to get his perspective and teh actions he has taken over the lat 8 years.
All markets are different, but in the East Bay there has been a bottoming that has occurred at the lower end of the market. This will only improve as housing rents increase and will eventually spread to the other segments of the housing market.