The Housing Market Hits the Bottom http://www.huliq.com/4745/81119/housing-market-hits-bottom

According to Real Estate Professionals and most of the major indices, the beleaguered housing market has finally hit the bottom or is only weeks away from being at the bottom of the market.

The mood in the Real Estate Industry seems to be on an uptrend. A recent survey conducted by HomeGain.com showed that almost half of Real Estate Agents who took part in the survey expect home prices to stop falling and begin increasing in the next six months. The majority of these Agents (85 percent) said that the homes in their areas had dropped in value in the last twelve months. However, the last couple of months they have definitely seen an increase in activity and sales.

Distressed Real Estate entrepreneur – Sam Zell – agrees with the survey. He is forecasting that the housing market will bottom out this summer because the drop in building is starting to impact supply. Zell recently said that “the U.S. will recover and recover first around the world because we have a culture and we have an environment where we face up to reality quickly and effectively.”

Related articles

• Sam Zell calls bottom for residential real estate, says GM is done (dailyfinance.com)
• U.S. housing may be nearing bottom: Case-Shiller index (financialpost.com)