Home Construction: Have We Seen the Bottom Yet?

I keep thinking we've sunk as low as we can possibly go and that we're on the way back up.

But I keep having to face the fact that I'm wrong. Just this morning, March 17, the Census Dept. announced that housing fell again last month by 5.9%. Since 2006, the housing market has been in free-fall and we're all just waiting for any small sign of improvement.

As I mentioned yesterday, the First Time Homebuyer credit is set to expire at the end of next month. How will that affect a housing market that has not yet stabilized?

In addition to another slip in housing sales, the National Association of Home Builders (NAHB) reports that builder confidence is also lower. In fact, builder confidence indicates that contractors do not feel encouraged that home sales will pick up any time soon.