Many experts think the U.S. housing market is now in a double-dip decline, based partly on recent Case/Shiller data.

But a new report by Citi suggests housing prices actually increased in February, calling into question predictions of coming doom. The report notes that there are challenges ahead, particularly on the foreclosure and inventory fronts. The February data also could be merely seasonal, the report cautions.

Still, it says trend data suggests slight (very slight) improvements may be ahead.