nsr, given that NODs lead foreclosures, and that the rate in NODs is now increasing, it makes sense to me that the rate of change in foreclosures could be changing even more quickly, now.
Josh, I think the important thing to watch is when NODs stop increasing and consistently start decreasing. That means that foreclosures will do the same 6-9 months later. When NODs (and foreclosures) drop to normal levels, downward pricing pressure on homes will be coming off, giving a signal that prices could soon start increasing.
