The Case Shiller Index produced a series of surprisingly good results for the month of April. Here are Robert Shiller's thoughts.

“At this point, people are thinking the fall is over,” Shiller, co-founder of the home price index that bears his name, said in a Bloomberg Radio interview today. “The market is predicting the declines are over..”

Here are the April 2009 over March 2009 results for cities that produce a large number of Maui real estate buyers.

• Denver +1.5%
• Las Vegas -3.5%
• Los Angeles -0.9%
• Portland -0.6%
• San Diego -0.1%
• San Francisco +0.6%
• Seattle +0.2%

This is a very encouraging development.