Okay, that headline was just meant to get you into the blog to read it. It is not really possible to know when the bottom of the market is, until 6 months after it has come and gone.
I will try to figure out a better way to insert graphs into my blog. However, if you follow the link below, it shows the 2 year trend of housing inventory in Ashland.
We are down considerably in inventory from the high of July and August of 2007. This is a good sign that the market locally has stablized.
It looks like there have been close to 18 months where the inventory is less than it was in the previous year. I believe as the confidence grows in the economy as a whole, and the housing relief that are being put into place by the government, that Ashland will have a healthy, stable market that many in the valley and Oregon will still consider to be overpriced.
Medford is even more dramatic when you look at the graph. I really shows that last year was when the best selection of homes to buy was.
Medford Oregon Residential Supply of Homes 2 year graph (note, I figured out how to give this a better name, and cannot figure out how to edit the name of the Ashland chart)
Now I will not stake my reputation on it, because this really is crystal ball stuff. But I do want it on the record that I believe that this October/November/December will be the “bottom” of the market. And as I have said before…we really won’t know when the bottom is, until 6 months after it has gone.
So someone could keep me honest, and next June have me run the stats to see if that prediction is true.