Calculated Risk comments that the CoreLogic house price index (an alternative to the Case-Shiller index I talked about here has turned positive year-on-year, and the data are a month more recent than the Case-Shiller series.
I think this is the beginning of a real housing recovery, if only because mortgage rates have fallen so much, with the 30-year fixed rate mortgage now just 3.6%
Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. I do make mistakes, but I try hard to do my analysis thoroughly, and to make sure my data are correct. Remember: the unexpected sometimes happens. The expected does too, but all too often it takes longer than you thought it would.
The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.
BTW, clicking on most charts will produce the original-sized, i.e., bigger version.