Now lets look at Winstons graph:
It shows a bottoming and then a nice consistent curve upwards. This is what i am interested in: the overall trend, not month to month figures. The same applies to US payrolls/jobless figures/new home building figures etc etc
You might be interested in Robert Shiller's (the creator of that graph) perspective on the bottom and up curve. He calls it a fish hook, and says it is unprecedented in the history of US housing....and he views it as artificial demand generated by govt intervention in the market.....and he holds grave fears for what happens when the govt retreats, as they eventually have to.
The article I refer to by David Galland adds further insight into how the govt is artificially propping up property prices, and private lenders are unlikely to fill their shoes, when the govt retreats. Not good news for US property.