The Portland Condo Blog

A Bottom in the housing market!

For the last several years we have heard from so called experts that we have hit a bottom in the housing market. Those who made that call a couple years ago were very wrong. But today, I think we are very close! While very much like the stock market, it is very difficult to call a bottom. All the signs are starting to point to a true bottom and leading indicators to me are the decreasing inventory and the  reappearance of…multiple offers!

A recent story in the Wall Street Journal stated that “Economists aren’t always right, but on this at least they agree: A new Wall Street Journal survey of forecasters found 44 believe the housing market has reached its bottom; only three don’t.

I personally don’t always have the most faith in economist, in fact, I used to say that you could switch all the economist with all weatherman and no one would know the difference! Times have changed…weathermen now have doppler radar!

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