Here’s More Evidence That Home Prices Have Hit Bottom

This is the headline from a great Wall Street Journal article today by Nick Timiraos. Click here to read.

When the trend bucks seasonality – that might be a sign of a strong recovery.

Some of the criticism of the recent residential recovery is that it is temporary and artificial because of low money cost and monetary policy. We think if this were completely true, we would not see it in more expensive markets. In our markets, where prices are often $500,000 and above, buyers are cautious about the use of leverage.

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