February’s Case/Shiller Home Price Index was released today, showing continued price declines across the country. According to Bloomberg, home prices slid 18.6% from the previous year — a steep drop to be sure, but less severe than January, which saw a record-setting 19% decline.

With recent “positive” news on existing home sales, new home sales and now confirmation with the Case/Shiller reading added to persistent low interest rates, greater affordability and a bounce in consumer confidence, many analysts are now saying the worst of our housing slump is now behind us.

We remain cautious, especially given the nuances of how these data points are collected and reported. For more on this topic, please see: Keepin’ It Real Estate: Beware The False Bottom in Housing.