Bottom of housing market?

Jim Weichert, president of Weichert Capital Properties & Estates, recently noted that the country had reached the bottom of the housing market, and that conditions were improving in many areas. Needless to say, he has his skeptics. He now claims that "They were wrong."

"Since I made my announcement, we have seen business improve," he said this month. In fact, the last day in June was the best day Weichert has had in a year, with more than 800 revenue units and listings. To put that in perspective, buyers and sellers generated $322 million in sales dollar volume in just one day.

He said that Weichert Open Houses was up compared to the same week last year. It appears buyers have gotten the message that it’s a great time to buy.