The data indicate: bottom has been reached

[2bindenver]

Here is another indicator - NAHB/First American Improving Markets Index (IMI) from the National Association of Home Builders.

[Mike from back east]

Bloomberg reports that Moody's Analytics has called a "bottom" on the nation's housing market.

Excerpt: “The crash is over,” Mark Zandi, chief economist for Moody’s Analytics Inc. in West Chester, Pennsylvania, said in a telephone interview yesterday. “Home sales -- both new and existing -- and housing starts are now off the bottom.”

Note: there are still @6 million homes in some state of foreclosure, which portends bargain hunting this summer for some buyers.

[davebarnes]

Originally Posted by Mike from back east

...are still @6 million homes in some state of foreclosure, which portends bargain hunting this summer for some buyers.

1. True.

But, only 937 in Colorado at my new favorite site Bank Owned Properties

Only $4.6M! To live in Cherry Hills Village.

2. Zillow has called the bottom for Denver as of 4Q2011. You mileage may vary.
http://zillow.mediaroom.com/index.php?s=159&item=272

[davebarnes]

Calculated Risk: Housing Bottom Callers: Zelman, Thornberg

"However if prices do stop falling that would impact psychology. Many homeowners with a little negative equity would start feeling that they can work their out from under their debt, and I'd expect delinquencies to fall further. And some potential buyers would start feeling a little more confident about buying. If sellers feel prices will increase a little, some will wait for the "better market", and that will keep inventory down. And lenders will start becoming more confident too. Prices do not have to increase to change psychology, just stop falling!"

[2bindenver]

The Denver market is heating up and the Springs market is getting warmer.

Average sold price is up 4% since March 2010. Sold price to list price is 97.7%.

I am so looking forward to the increase in activity.

[davebarnes]

The upward slope of Real House Prices

"This would suggest nominal prices are at the bottom (and real prices are close too). This is one reason I think the Case-Shiller and Corelogic house prices indexes probably stopped falling, NSA, in March 2012 (the March data will be released next month)."