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Sign into your accountReal Estate Marketing Analysis: Where’s the Bottom of the Market?
June 26 2012
CoreLogic CEO, Anand Nallathambi, addresses this market issue in his "Letter from the CEO" introduction to the latest quarterly MarketPulse Report. In this brief overview of the real estate markets, Anand cuts through all the real estate data and statistics that make up the report and calls the market condition as he sees it. This page and half read is worth your time:
Are we there yet?
That's the question that has confounded the housing market for the last four years. Has the market bottomed? Should I buy now? Or will prices go even lower?
In 2010, price gains were primarily due to demand created by the homebuyer tax credit program. When the program expired, so did the gains, and our monthly Home Price Index (HPI) finished the year in the negative. Over the course of 2011, we saw four months of gains, but again finished down by 4.5 percent overall. This year, as was the case the previous two years, spring brought an upward movement in our HPI. So the question on many peoples' minds is will this year's end result be any different than the recent past?