First, the good news:
The rate of decline on a YOY basis is now very close to 0. That is good news. BUT
The month to month number has stalled out. From here, a sideways move wouldn't be a bad thing - in fact, I would personally not mind a bit. However, a sideways move can easily change into a downward move which is my biggest fear.
Compounding the problems with the last report is the above chart which shows that only two cities saw a month to month increase in housing prices. That adds further problems to the housing market -- problems we don't need right now.
