In terms of movement, the market should be judged as moving toward the seller.  Key measures are no longer declining and have begun to increase.  The level of sale pending is showing good increases.  Distribution of Supply/Demand table is tightening.  Price, however, plunged in the month of February.  As in any market, prices may fall then rally and recover.  Current indicators support the notion of a price rally and stabilization in the range $200,000 and $220,000 in the short run with a probability of about 60%.  Median price declines below $200,000 appear to be possible, but not probable in the short run.

The reader should note that Percent Selling (Market Efficiency) has stabilized and has begun to increase.  This is a signal the market has bottomed in terms of demand and is now on the rebound.  Percent Selling should begin to increase slowly as a result of the more competitive price schedule offered by sellers and the favorable market cycle (spring).  These are the first tentative steps to market recovery from the seller perspective.