You never know until you can look back at historical data to see when the bottom of a market was, but look at this graph.

Not sure what you are looking at?  The dark blue represents 2008 condo sales by # of sales, the teal color represents this years sales.  If you put them end to end, you would see a rather large dip in sales starting last June (2008) through July of 2009.  In Fact, October 2009 is the first month in some time that saw an increase in sales and volume over the previous year.   Very interesting.   

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