Prices have gone up this summer, instead of declining as they typically have done during the warmer months; they are at levels twice as high as a year ago,

We're heading into the typically slower summer months, and it's slow already. It's hard to imagine a sustained rally taking hold.

Though there are some prices that are declining, in fact deflation means most prices are declining and there's very little evidence that is happening.

House prices tend to move seasonally, driven up by higher demand and activity in the warmer months and falling off towards Christmas. Just as the trading period over Christmas is crucial for the retail sector, the spring and summer are crucial for the housing market.

All months are warmer by between 3 and 6 degrees (Celsius). This is beyond the usual variations. We're in a total transition ... it's a one-way street right now.

Now that the weather forecast has changed to predict warmer weather, the prices have come down quite significantly.