Have Housing Prices HIt Bottom?

For those of you who are still waiting for the housing market to bottom out, it might be time to step off of the side lines and run into the game. Below is a portion of an article that was sent out by the "Florida Association of Realtors" on, April 7, 2009.

Housing may have hit bottom in February -CHICAGO – April 7, 2009 – The chief economist of Mesirow Financial, a $31.4 billion asset financial services firm in Chicago founded in 1937, announced that the housing market probably bottomed out in February and is now on the road to recovery. "An unexpected jump in new and existing home sales, a fairly sharp increase in mortgage applications, and a surprise increase in pending home sales prompted many to declare the bottom in housing in the month of February," says Swonk. "Even home prices, which had been falling like a rock, showed some signs of stabilizing during the month. Moreover, speculators appear to be re-entering the market, picking up properties on the cheap."