Timing the Real Estate Market?

Like all sectors of the economy, real estate has its cycles. Since 2006, the trend of the cycle was downward. Purchasers of real estate always like to get the best deal and, in a market like this, want to buy at the low point. The question is "Have we reached the bottom?" There are several groups that follow the market, and the S&P/Case-Schiller index is one of the most widely quoted. NPR radio interviewed some key economists including Karl Case and William Wheaton on their "Morning Edition" show and they reported the following: "When it comes to the ailing housing market, one of the key vital signs is the Standard & Poor's/Case-Shiller home price index. For the past couple of years, it's been reporting record price drops. The latest round of data released Tuesday shows that between June and July, prices actually increased in the majority of cities tracked by the index." After listening to this report, you should have one more data point to determine where we are in the market cycle.