Prices continue to fall in some areas and have risen slightly in others. Nobody really knows when the bottom will occur, though it looks like we are there now. Most markets still have an incredible amount of inventory to sell off like Maryland for example which has close to 5 years. My belief is we will be flat for the next 3-7 years. To buy now should be for reasons of shelter, unless you are an investor.
Prices may now be stabilizing. Decline caused by distressed properties predominating the market. Now there is a shortage so this may nudge prices upward. It seems to go up and down somewhat due to the time it takes for some short sales to closs.....they may have been under contract for a long time and if on the market today the market price could well be higher than when the home originally went under contract.
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