What do you think?

Looks like a dead cat bounce to me too.

“Such inflexibility worries economists like Mark Zandi, who says it could take a “Roto-Rooter” to finally flush stubborn sellers-and their market-clogging inventory-from real-estate listings.

In the short run, he expects the market could stabilize somewhat as new construction slows and dejected sellers temporarily pull their homes off during the slow winter season. “But it could very well be a dead-cat bounce,” the Moody’s Economy.com chief economist says of the chance that a strong economy and persistent inflation will push up mortgage interest rates-just as sellers move to relist their houses in the spring. If that happens, “it’ll come right out of housing prices again.”"

http://www.usnews.com/usnews/biztech/articles/061029/6housing.htm