Pending home sales 2010-10
Maybe not:

Pending home sales jumped in October. The National Association of Realtors Pending Home Sales Index increased by an impressive 10.4% during the month. Even with this rise, however, demand remains relatively weak. ... As noted yesterday, housing was pretty much the only dim spot in an otherwise great month for the U.S. economy in October. Even if demand doesn't approach astronomical levels, a relatively healthy number of sales may be enough to keep the broader economic recovery moving confidently in the right direction.

Calculated Risk explains how to read the new housing numbers. An earlier look at the housing market here.

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