When I first looked at these data back in December 07, I was upbeat about the Atlanta market which did not seem to have experienced a real estate bubble. Since then, the Atlanta home prices have fallen hard and are now below their 10-year average. Same for the Los Angeles market which I use to show the bubble effect.
While home prices are still heading south, I see no reason to rush into buying a house.
Why not wait for the dust to settle and home prices to stabilize?
