Housing prices on a YoY basis showed improvement. That is a good sign. Of course if we look at a year ago and realize that home prices are still falling may make some stop and wonder how this is anything more of a statistical recovery.

Look at the chart and you can quickly discern that losing 3% on a YoY basis is not as exciting as would be reported by most in the main stream media. They think it is a good thing….

By all accounts, housing prices have benefited by synthetic demand that is going to run its course.

___

Disclosure: Horowitz & Company clients may hold positions of securities mentioned as of the date published.