In 2006, the US housing bubble burst. A large decline in home prices followed, leading to the credit crunch and the financial crisis in 2007 and 2008.

The Housing index surpassed its 2005 high levels in September of last year and is up 374.5% from its February 2009 low.

It pulled back 18.7% from its January intra-month high. Prior pullback was 26.8%. 

Currently the index is on a downswing. However, the trend is up and possible support zone found @ 294-288.