I don’t know if I’d go that far. Even if sales and prices pick up this summer, that doesn’t mean that this winter was the bottom. The last graph on this page: http://piggington.com/january_housing_data
should be evidence that the bottom can be tough to call, and also that it’s highly doubtful that the bottom would occur so soon. If this summer does pick up, I’d say it’s far more likely that summer of ’07 will end up just a bounce similar to ’91 rather than the bottom (’96).
