Economists (including Alan Greenspan) have been calling a national housing market bottom since 2006.  Obviously those "experts" missed the mark by a few YEARS!  But now a new consensus may be emerging: A call for a housing bottom worth listening to (CNNMoney.com)

...a consensus seemed to emerge among experts at a housing forum held by Standard & Poor's and the Chicago Mercantile Exchange on Wednesday in New York. Readers will be forgiven for taking this pronouncement with a large grain of salt.

Several panelists, including Economy.com's chief economist Mark Zandi, Goldman Sachs (GS, Fortune 500) economist Charlie Himmelberg, S&P managing director David Blitzer and S&P senior economist Beth Ann Bovino all agreed that home prices would stabilize sometime during the summer of 2009.

Or, for a more local take about the Massachusetts real estate market, see Housing Experts: Bottom is near (Boston Business Journal):

“I think we’re nearing the bottom and we will reach bottom by the end of the year,” said Alan Clayton-Matthews, professor of public policy at the University of Massachusetts-Boston’s McCormack Graduate School. A recovery, on the other hand, is far from underway and it could take another year or two before prices return to near-peak levels. “If the trend of the last few months continues — falling prices but rising sales — the market could reach equilibrium,” said Clayton-Matthews.

One indicator of a solidifying market: The number of active listings has declined from last November, when 37,000 homes were listed for sale, and this July, when 32,000 were listed for sale. Clayton-Matthews said once the number of active listings dips below 30,000, the market has hit equilibrium. He said the last time that happened was in 2004, when home listings slipped to 28,000 and prices stabilized.

Don't you just love predictions with lots of caveats? We shall see how it really plays out......