Whitney: Beware of Housing Market

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Housing market:

Home prices rose 3.8% in April versus a year ago, according to the S&P/Case-Shiller Home Price Index of 20 major housing markets. That was a bigger jump than expected, with economists looking for a climb of 3.4% after a boost of 2.3% in March. Home prices also rose 0.8% in April from March levels.

However, prices remain off over 30% from the peak.