Housing outlook for 2010? Not bad...

I've been saying that we will hit stabilization in the last quarter of 2009 and the housing market will flatten out with a slight increase in prices sometime in 2010. Barring some unforeseen circumstance, I'm sticking with my gut.

The California Association of Realtors says the same thing...Keeping in mind that real estate conditions are very localized, overall in California we can expect the median home price to rise 3.3 percent to $280,000 in 2010. Sales will moderate to a more sustainable pace, posting a 2.3 percent decrease next year. 2010 should mark the beginning of a “new normal” for California’s housing market, and likely will feature a steady stream of sales driven by distressed properties in the low end of the market, coupled with moderate home-price appreciation.
Many factors still come into play and are we in full recovery swing? Not yet, but I'd say that we are around the corner and about to merge onto the recovery freeway...