Drop in startling cuts is sign that housing market may soon reverse slide

There's more to indicate that the housing recession has hit bottom than Thursday's dual announcements that housing starts rose 1.5 percent from July, and new jobless claims dropped by 12,000 last week.

Homeowners looking to sell are also putting the brakes on the trend of aggressive price cuts, indicating that the real estate market may be closer to salvation than previously thought. In 20 major U.S. housing markets, the percentage of homes that have suffered price reductions is dropping. More...