Can We Call the Real Estate Market Bottom?

I was forwarded an article from SmartMoney.com on the trends in the Real Estate market. As I was reading through it I gleaned some interesting points. The market is not all that bad. Though it starts out talking about foreclosures, short sales and the deals that are being made in the Florida market, the writer quickly got to some more heartening news. The take aways are: the market seems to have bottomed some time in the second quarter; more people are able to afford homes; lenders are being cautious and not letting buyers overextend; sellers are being realistic in pricing the homes; and, prices seem to be increasing in most markets (there are exceptions.) The full article is called "Yes, The Housing Market Has Rarely Looked Better" by James B. Stewart