February Bottom Call Revisited

I went out on a limb in April and said our local Sonoma County markets had bottomed out in late February. I don't get paid to write these predictions, so I don't have an editor to fire me. On the other hand, anyone who reads my work or listens to my advice should know whether my crystal ball (and spread sheet work) is clear.

I printed this chart and pointed out where the trend lines were bending upwards.

I have this more recent live chart below showing that as of late October of 2009 my earlier prediction about a late February housing bottom in Sonoma County is still showing up as a good predictor of price changes. Still, prognostication success aside, I'm not going to tempt fate and promise continuing improvement going into the slower selling season on both sides of the holidays.

I will mention that prices have moved up between $50K and $100K in this Santa Rosa zicpcode depending on the price range. We're nowhere near the peaks of the market and may not regain those for a very long time, but the smart buyers ( Dick Miller you know who you are) were able to act on my advice and purchase homes for very good values in the spring.