I watch a ton of things because I'm a data nerd --- I look at supply (existing inventory all the way thru permits to see what's coming down the pipe), demand (household formations), debt burdens and delinquency rates (how many people will be able to get a mortgage), days on market trends, etc.

Most everything boils down to supply and demand, but what goes into those things is a little more complicated --- I think we're entering a rough patch for the economy, and with is will come some affordability opportunities, but also some pain & suffering (increase in delinquencies, job losses and the associated credit challenges, etc)

It is simple for me - simple in the sense of monitoring the market. It can take months to see where a market is trending because it's "happening," yet we may not "see" it until we look back 2-3 months or more. 

I would not rely on an article written by a likely self-appointed "expert" who has never sold, perhaps never even purchased a home. 

So many theories on these matters, time is the true test, and most do not live up to their predictions.

Everything on this planet operates in cycles i.e. starting & finishing only to begin again. We are in the process of ending another Real Estate cycle only to begin another. Bottoming means the next step is the upswing or begin again

Bob Crane has this one nailed. Real estate has seen peaks and valleys since time began. And one man's valley is another man's peak. 

Good morning Peter Mohylsky where did you find the article? I watch for inventory, days on the market, sales prices.

#1 once there are enough buyers to stop prices from going down the end is at hand.

Likely a lot more than most - but not only does my market operate differently, but I also have a long prior career in capital markets. Here are a few I watch that I suspect most agents are not: Market Pulse (local market only); liquidity pace chart (local); listing success rate (local); climate index (local); pricing penalty (local); median listing discount (local); % of Cash sales (local); CME Fedwatch Tool Conditional Meeting Probabilities (macro economic); Credit Spreads (Macro); Median Sales Prices of Homes across the US (macro). Also broader macro- equity indexes, Oil/Nat Gas, Gold/Silver; FX rates, 10 yr Treasuries; This is just a start- but less likely for many agents to be monitoring. NYC is a global market with lots of international clients and financially savvy clients. 

I stay current on local and federal housing updates by following CPA insights on YouTube, attending CAR webinars, and running weekly market reviews. In Los Angeles, home sale and rental prices remain relatively stable, though overall sales are down about 8% year-over-year, with condo sales seeing the sharpest decline. The median home price is holding near $1.04M.