From Calculated Risk:
Sales in September 2008 (5.18 million SAAR) were higher than in September 2007 (5.11 million SAAR). This is the first time sales have increased for any month year-over-year since November 2005.
By no means does this mean that the housing bust is over, or that we are near the bottom. It does mean that the housing bust may be (slightly) closer to the bottom than the top.
The housing market reaching a new equilibrium is crucial to the ultimate resolution of and rebuilding from the Slow Motion Bust.