Housing topped in some markets in spring of 2005, like in my area of west sonoma county, where prices had doubled in 2 years. It did not top out in texas until 2008, thanks to oil.
In fact, if you bought in 2002 in my area, your house is still not worth what you paid for it.
Housing stocks topped at the end of July 2005. I know, as I lost 20% of my money shorting tol in june and july. I then made my money back in august and sept, and then never shorted housing stocks again. Almost did a few times, but had lost my nerve.
Follow the trend, why I am dumb shorting again. spx 1533 for sure tomorrow.