Housing: Have We Hit Bottom?

Has the housing market finally hit bottom? It’s probably too soon to say — but Wall Street sure seems to think so.

The Commerce Department reports that new-home sales rose almost 5% last month after hitting their lowest point ever in January. Economists were expecting a decline of about 3%

This comes on the heels of two reports showing a better-than-expected gain in existing-home sales and the first increase in construction of new homes since June.

Are investors declaring that the worst is over for housing and that it’s time to start plowing back into the market?

Even though some of the February numbers suggest that the that the credit markets may be finally thawing after the Lehman Brothers collapse-induced freeze, many experts warn that isn’t the same thing as a healthy housing market — especially since home prices continue to fall.

What do you think? Do you think housing has finally hit bottom? Give us your opinion by clicking the “Comment” link below and telling us what you think. Your email address will not be published along with your comment.