[dbaggerman]

First thing to keep in mind is that the Case Shiller data you linked to only has data up to February. The FSI data is more up to date, but the big upswing was only getting started in late Feb with it being more visible in March/April figures.

The other thing to consider is that housing prices are likely to lag behind financial stress. If people are in financial stress, they are likely to sell off a second car or other luxury possessions before selling their house. Also selling a house takes time, so even when people do start selling they won't be on the market or closing sales straight away.