http://www.economicsjunkie.com/home-prices-may-2009-beginning-to-bottom-out/ True Economics Applied in the Real World Fri, 10 Feb 2012 18:24:09 -0800 http://wordpress.org/?v=2.8.6 hourly 1 http://www.economicsjunkie.com/home-prices-may-2009-beginning-to-bottom-out/comment-page-1/#comment-3069 Nima Mon, 03 Aug 2009 17:24:31 +0000 http://www.economicsjunkie.com/?p=2631#comment-3069 ... and actually, when you look at the seasonally adjusted data, prices are still down. The decline in housing is obviously slowing down a bit, but I agree that it is more likely that the bottom is not in. I mean, we have had 3 consecutive years, with composite home prices falling every single month! Of course there will be a temporary pause in price declines from time to time ... … and actually, when you look at the seasonally adjusted data, prices are still down. The decline in housing is obviously slowing down a bit, but I agree that it is more likely that the bottom is not in. I mean, we have had 3 consecutive years, with composite home prices falling every single month! Of course there will be a temporary pause in price declines from time to time …

]]> http://www.economicsjunkie.com/home-prices-may-2009-beginning-to-bottom-out/comment-page-1/#comment-3061 LauraB Mon, 03 Aug 2009 06:48:25 +0000 http://www.economicsjunkie.com/?p=2631#comment-3061 I wonder if this uptick in home prices is just seasonal and how much impact the $8,000 dollar credit is having. When that credit is taken into account, are prices really up? Prices may appear to have gone up month-over-month (in part because of the credit?), but what about year-over-year? In other words, how do sales in May '09 compare to May '08? Are they up or down? Spring/Summer traditionally has higher home sales because people are moving while their kids are out of school, etc. Also, the prime and Alt-A problems are just beginning. I highly doubt we are anywhere near the bottom in housing. I wonder if this uptick in home prices is just seasonal and how much impact the $8,000 dollar credit is having. When that credit is taken into account, are prices really up? Prices may appear to have gone up month-over-month (in part because of the credit?), but what about year-over-year? In other words, how do sales in May ‘09 compare to May ‘08? Are they up or down? Spring/Summer traditionally has higher home sales because people are moving while their kids are out of school, etc. Also, the prime and Alt-A problems are just beginning. I highly doubt we are anywhere near the bottom in housing.

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