re: Case-Shiller: Home prices fall in January

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It's not just REIT's that are doing well. Builders etc. like TOL, MDC, and LEN are looking great.

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I understand that, which is why I said:

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in that time frame and every report I saw from homebuilders (Lennar, Beazer, KB) was shite, so I'm not sure I believe that market movement is worth anything

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When several stocks in a sector are outperforming the market (100% to the upside for various RE stocks vs. 25% upside for the market) it is definitely worth noticing. I don't expect bubble like behavior from the RE market stocks. I do expect a steady uptrend though.

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Definitely worth noticing, but I'm not sure it implies a whole lot, which is all I'm saying. I'm not even saying it hasn't hit a low, C-S is a 3 month average, I just don't think there's a lot of fundamentals to back up giant jumps in market prices (I'm just assuming this based on what you said, I haven't looked at any) that indicate some kind of substantial growth. When you're going from flat to negative housing trends to potentially just barely positive in the near future, I would expect everything to jump, but just barely positive or something like 2 or 3 percent appreciation a year isn't going to drive REITs and homebuilder bonkers. If you think its going to outpace that general number (so define "steady uptrend"), what are you basing that on?