Scott Grannis at Calafia Beach Pundit notes that the Case Shiller Home Price Index continues to show strength or at least stability in housing prices:
The Case Shiller Home Price Index for 20 major metropolitan markets hit bottom in the second quarter of last year and has been rising gradually ever since. Given the lags used in constructing the index, this means that prices likely hit bottom around March of last year. Even after adjusting for inflation, as this chart shows, home prices are up at a 3% annualized rate over the past 8 months.
Dr. Duru