1 - number of resales on the market fall below a 7-8 month supply;
2 - DOM (days on market) starts decreasing;
3 - permits for new homes rise;
4 - mortgage purchase applications rise;
5 - 30-year-fixed mortgage rates drop below 6%;
6 - affordability improves dramatically (ie, median home price drops);
7 - at least one major home builder "goes away";
8 - foreclosure filings begin to fall.

Some of these are moving in the right direction but aren't there quite yet!

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