Actually, not so much signs of an Upturn as signs that we have passed bottom. This link in a real estate publication cites several cities that have seen an increase in property values, and many more that have seen a lessening of property value declines.
Several things contribute to this, all related to supply and demand. I have chronicled here that sellers are either shelving plans to sell, or turning to the rental market to put people in their properties. Charlotte will have its best year for downtown property changing hands this year through either sale or rental.
Interest rates are incredibly low, have been for a while, and show no serious signs of creeping up. Lenders are being penalized for their past actions of loose credit, and chastised in today's market for being too tight!
I have seen many instances where multiple offers are being submitted on available properties. This usually is the start of a bidding, war at least on those properties.
Conventional wisdom states that the most important thing in real estate is Locatoin, Location, Location. A friend of mine in the industry has a different perspective, and that is Motivation, Motivation, Motivation!
I believe in the latter.