So long as we're talking about housing news, lets look at the homebuilders ETF, XHB:
Notice the following.
1.) The index is below the 200 day simple moving average (SMA). In fact, prices are nearly 40% below the 200 day SMA.
2.) The SMAs are aligned very bearishly: the shorter SMAs are below the longer SMAs. This means further declines are in the cards.
3.) Prices are below the SMAs, which will pull the SMAs lower as well.
4.) The index has dropped 55.89% since its high around 40 earlier this year.
5.) There is a strong downtrend in place that has been in place since the end of May.
This is a great example of a bearish chart.