The housing market has now bottomed out, and Americans are buying homes again

• After seven months of declines, home prices rose 0.8% in February, CoreLogic said.
• That's double their increase historically, indicating prices have bottomed out in most markets.
• Pent-up demand and falling rates are pulling Americans back into the buying market. 

The US housing market has now bottomed out, and Americans are piling back into the home-buying market once again, according to CoreLogic. 

Following seven consecutive months of declines, the CoreLogic Home Price Index showed a 0.8% rise in February from January. On an annual basis, home prices in February increased by 4.4%, per CoreLogic data.