You Be The Judge: Is The Housing Market Really Improving?

A home for sale in Glenview, Ill. Existing-home sales hit the highest level in more than 3 years in February. But not everyone is convinced that the housing sector's momentum has staying power.
Nam Y. Huh/AP A home for sale in Glenview, Ill. Existing-home sales hit the highest level in more than 3 years in February. But not everyone is convinced that the housing sector's momentum has staying power.Nam Y. Huh/AP
This week, optimists had no trouble finding fresh evidence to suggest that the housing market is recovering.
On Thursday, they learned from a Realtors' report that existing home sales hit the highest level in more than 3 years. And earlier this week, a Commerce Department report showed homebuilding permits have been rising at the quickest pace since June 2008.
But not everyone is convinced that the sector's momentum has staying power. Skeptics point to reasons why the housing sector might falter, just as it has several times over the past six years.
If the optimists and pessimists had to face off in front of a judge, these are the exhibits they might enter as evidence:
The Optimists' Case