Bottom of the Abyss?

Sales numbers are in for January. Only 120 homes sold. Have we reached the bottom of transaction volume? Will sales continue their downward trend? Look for real estate agents driving more Ford Focuses than BMWs.





I will go out on a limb here and predict that January was "the bottom". I believe sales will move in a stable but non-growth (12 month moving average) pattern for several years to come. I hope that I am right on this one. Otherwise, if we keep up this trendline, we will sell ZERO homes in Jan 2011. I don't think that is likely.