This is what I’d call a dead cat bounce. Nothing go up or down in a straight line. Every down trend have mini recovery only to have the down trend continue. Same w/ every up trend, there are many profit taking a long the way. Trend don’t usually change course in a year, be it stock or real estate. Unless we all wrong and this is just some profit taking before we resume double digit appreciation. In that case, buy now and your 500k house will be a million dollar house in several years. However, all fundamentals are saying otherwise. We’ll just have to wait and see. Everybody will predict the bottom but they all are just guesses and no one will know they’re right or not until many years after the bottom and looking back. Only then will you know if it’s a true bottom or just dead cat bounce.
