The numbers continue to be weak, however the magnitude of the downtrend has slowed dramatically and this could be a major step in forming the bottoming process. If the home-related stocks are any indication, the bottom will be found in the very near future. The iShares Home Construction ETF ($ITB) is up 16% in 2012 and well off the lows of early October. The ETF hit a 52-week high in early February.
I am not one to try and predict a bottom for any downtrend in the market or life. However, my gut tells me that a bottom is near for the housing market as long as another black swan does not appear in the sky.
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