Is the Bay Area housing market stabilizing?
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Published: Thursday, May 21, 2009 at 2:18 p.m.Bay Area home prices edged higher in April for the first time in 18 months, a sign that the region’s housing downturn may finally be easing, according to a new report.
But the forces that have slowed the housing market’s slide are fragile and it is unclear whether the region’s real estate slump has truly hit bottom, according to MDA DataQuick, a San Diego real estate research company.
“For the past few months we’ve seen faint but growing signs that would normally suggest many markets are nearing price stabilization,” said John Walsh, MDA DataQuick president. “But we’ll need to see those vital signs continue to strengthen into the fall. Job losses and historically high foreclosure levels continue to pose serious threats to housing stability.”
