The residential housing market is somewhat cooler than it was a year ago. An argument could be made that the market was overheated and got ahead of itself. Interest rates are not that much higher than they were in the second half of 2005. There is a lot more inventory that needs to be worked through (or more accurately priced). Barry Ritholtz at Seeking Alpha asks the question housing near a bottom? He makes his argument with a lot of interesting data.
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