The jury is still out on that one. Still, by the end of this week, we will have some major clues in hand.
The Commerce Department will release numbers of home starts tomorrow, while the National Association of Realtors will report home sales data for February on Wednesday.
Topping it all off, numbers on new home sales will come out on Friday.
All three key indicators are likely to show improvement, according to surveys of top economists by Bloomberg. (Local housing numbers are due out next week.)
Home sales will rise .7 percent, putting in their strongest showing since May 2010, Bloomberg's survey of economists predicts.
Housing starts are poised to put in their best showing since March 2010, while sales of new homes will climb back to 2010 levels as well, according to the Bloomberg survey.
We'll see - there could be surprises in either direction.
Housing market bears, what's your counterargument here? And bulls, where in the world have you all gone? Why aren't you jumping for joy right now?
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