Trulia's Housing Misery Index

It's like a tale of 2 markets: On one side:  Reports of limited inventory of homes for sale causing price increases and multiple offers. On the other side:  This graph below pulling some equally credible source:  Trulia Housing Misery Index. My take:  We just aren't out of this trouble yet.  Regardless of the national real estate market, we here in Jacksonville Florida were one of the hardest hit areas in the bubble burst.  Prices increased well beyond what they did in most areas of the country, therefore we are seeing this huge decline in prices.