The most famous housing crash in Europe existed in Spain.

In some sense, Spain was the "Florida" of the Eurozone crisis, as it experienced a gigantic housing boom in the good days, followed by a brutal real estate collapse, threatening the banking system.

Anyway, like Florida, it's coming back, as the Eurozone crisis fades further into the rearview mirror.

Via Markit, the YOY decline in Spanish home prices hit its best number in 3 years.

Screen Shot 2014 05 13 at 4.32.14 AMMarkit