That's the question everyone is asking - or is afraid to ask. The last Tuesday of each month a fascinating report is released called the Case-Shiller Home Price Index. The latest release, from April 28th, showed what could be an early sign that the nation's falling home prices may have bottommed out. In reality, prices still fell, but they fell less than in every prior month since October 2007 when the freefall began. In six months, if things keep improving, we all may look back at February 2009 as the actual bottom. See the report here:

http://www2.standardandpoors.com/portal/site/sp/en/us/page.article/2,3,4,0,1204846112247.html



It seems that every economic report that hits the news wires offer a conflicting view. Either the world is coming to an end or the worst is behind us. Only time will reveal what's really happening, but maybe the bottom is closer than we think. My personal view: from a national average perspective I do think we've hit the bottom. I believe some markets around the nation still have more correction ahead of them. We're seeing signs of life in a lot of regions, including Salt Lake City. The median home price in Utah has barely changed since this mess began. Meanwhile cities like Detroit, Miami, Phoenix, Las Vegas, and certain areas of California appear to have a ways to go yet.



I'm hopeful that the bottom is near. It will only serve to create some stability for borrowers and confidence for lenders. Once that occurs, then the wheels of the real estate market can gain traction and began the slow process towards appreciation.