Add it up.

From blog crash2006, 15 killer facts about the housing bubble bursting, I've picked the best 5:

Fifteen killer facts about today's declining market:

In February, mortgage applications are down 18.9 percent compared to the same period last year

Nationally, sales of existing homes in January were down 5.2 percent. Sales have fallen for five straight months

Condo and co-op sales declined 10.6 percent in January compared to December

The total number of homes available for sale at the end of January was up 35.7 percent from a year earlier.

The housing affordability index (HAI) is at a 14-year low.