That’s what Marketwatch says:

A gauge of future home buying declined slightly in October, a sign that the housing market could be stabilizing, the National Association of Realtors said Monday. The pending home sales index fell 1.7% in October after a 1.1% drop in September.

I’m not sure what exactly is stabilizing. The speed of decline? Not yet, it increased from -1.1% to -1.7%.

What is stabilizing in my view is the attitude that there is no bottom in how low the real estate can go. The Japanese experience tells us that it can go way below anyone could expect.