Home prices hit bottom?

Not, yet, for home prices to hit bottom you need more demand. Right now you have rising jobless numbers and lots of people are losing their houses. This means that the banks are loaded with foreclosed homes, and as these sad repos are dumped on an already over saturated market the property prices sink even lower.

However, the good news is that few new houses are being built so the demand will eventually catch up with supply. Also as houses get cheaper more people can afford them. This means that if we wait we can see home prices start to go back up.