David Blitzer of Standard and Poors commented that he sees hints of a bottom in the real estate market from the latest Case Shiller Index numbers released yesterday. By that he means there’s no longer an acceleration in price declines. After all, home prices are still declining.
Month to month, the Tampa area which represents all of Central Florida including Orlando decreased 1.1% and 20.1% year over year. Needless to say, the real estate market here has not been good in 2008.
Perhaps there’s a glimmer of hope that we’ll see stabilization in the near future.