The Bad News: US Housing Prices declined 18.6% in the most recent Case-Schiller index report.
The Good News: For the first time in 16 months the decline does not represent a new record.
Chew on that for a while, it’s another sign that the US Housing market is beginning to stabilize.
More Good News: My official call for when we it bottom in SoCal was December 2008. It seems every offer I write under $400K is in multiples and we aren’t getting anything below asking price right now.
