More lackluster housing news, as existing-home sales dipped in January. The National Association of Realtors, however, believes the worst could be over. From AP:

Lawrence Yun, chief economist for the Realtors, said he believed the housing market may be on the verge of bottoming out with a rebound expected to start toward the end of this year. “Subprime loans and other risky mortgage products have virtually disappeared from the marketplace, and over the past five months, this has been reflected in soft but fairly stable home sales,” he said.

You almost want to believe him, until you recall that Realtor flacks have been saying the same thing for years.