Home sales have seasonal variations, so it is more useful for compare year-over-year rather than month-over-month. Here are the comparisons of number sold by month, last year and this year:
The YOY percentage decline for October was greater than for September, and more than double the average decline for the year. Obviously there was a huge acceleration of decline in Aug-Sep (presumably due to lending issues), and not so much acceleration in Oct. So in that sense you could say the decline has “leveled off,” but things are still getting worse.
