Interesting graph citing "reliable... but not guaranteed" sources over at Sandy Nelson's real estate blog:
More from Sandy:
The real estate sales data for the last month of 2008 has recently been released, completing yet another year for the market statistics. While the median home prices for the entire NW MLS average an 11% drop, Thurston County only shows a small drop from the year before.
Is this dip just a healthy correction, or is it the beginning of a new downward trend?
I don't think anyone can tell for sure.
Will 2009 see an improvement in our local housing market? I don't think anyone can make predictions. Remember the big predictions of 2008 that prophesied Hillary as President and swore that we would never again see gas prices below $4.00?
Surprising things can happen. I, for one, am surprised to see interest rates below 5%. I didn't think that was possible, but here we are.