Have housing prices bottomed???

Results from some home builders seem to indicate that the industry may be hitting a bottom. Pulte (PHM) and Ryland (RYL) reported narrower quarterly losses from a year earlier, while Meritage (MTH) swung to a quarterly loss from the prior year's profit. Plus new home sales jumped 5.7% last month. "Better days are ahead," Ryland CEO Larry Nicholson believes.