Well, if my ego weren’t big enough, it’s moments like this that help inflate it. Back in April, I was stupid enough to make a market prediction, and put it in writing:
“I honestly believe that 3 months from now, this same graph (with new data), will look worse than it does now….. short of some brand new unforseen fiasco, we are currently looking at the worst of the market”
- Moi, April 7th 2008
So from the cities I’ve been looking at, Boston, Chicago, and New York have all seen slight increases since they appear to have “bottomed out” between April and May (Achem!!!! 3 months later, I rule..). Other cities that have seen bottoming out / price increases include:
Denver, CO, - Atlanta, GA - Chicago, IL - Boston, MA - Minneapolis, MN - Charlotte, NC - New York, NY - Cleveland, OH - Dallas, TX
Unfortunately, that still leaves 11 out of the 20 cities followed by the Case Shiller with decreasing home prices. However, for 7 of those Cities (as well as the composits as a whole), the rate of negative change in the prices, has been consistently decreasing as well for the last 4 months, which implies that they will be soon to follow the flattening/upward trend.
Which still leaves the somewhat consistent losers…. Phoenix AZ, San Diego & San Fransisco CA, and Tampa FL. Boooo you guys… BOOOOOOOO!!!!!