As each day goes by, homeowners and nearly anyone who works in real estate waits patiently to see if we're that much closer to reaching the market bottom.  Ever since the market downturn, speculation as to when that would happen has been rampant but the reality is that prices for property like Miami Beach homes have still dropped.  Still, some recent statistics may prove the bottom is closer than we think.

For the first time in three years, the Standard & Poor's/Case-Shiller 20-city home price index managed to post its smallest decline back in January, a good indicator of where things may be headed.  Not entirely surprisingly however, South Florida didn't fare as well as one may have hoped.  Between January of this year and last prices dropped by more than six percent, showing that Miami Beach homes still have a tough road ahead.  Thankfully however, South Florida didn't do as bad as some of its neighbors like Tampa.

On the one hand, market experts claim that property like Miami Beach homes will no longer see huge price plunges.  Then again, others believe that the end of the homebuying tax credit and looming foreclosures will soon make things worse.  Where do you see things going?