I am not talking about the housing market in your town though, but rather the iShares Real Estate ETF (IYR). This ETF has been consolidating in a tightening symmetrical triangle since July, and is just making the 5th touch at the top rail, often a breaking point. The Relative Strength Index (RSI) is bullish and rising and the MACD is also moving higher to support a break through.
Finally, the accumulation/distribution statistic shows strong accumulation as it reaches the top rail. A break higher targets a move to 75.55, near the previous high and nearly 13% higher. Yes Real Estate is looking up.