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. While I do make mistakes, I try hard to do my analysis thoroughly, and to make sure my data are correct (old habits die hard!) Also, don't ask me why I called it "Volewica". It's too late, now.
BTW, clicking on most charts will produce the original-sized, i.e., bigger version.