Former Federal Reserve Chairman Alan Greenspan said that the decline in the US housing market may be bottoming and it’s 'very easy to see' financial markets continuing to improve.

'We are finally beginning to see the seeds of a bottoming' in the housing industry, Greenspan said today during a conference of the National Association of Realtors in Washington. The U.S. is 'at the edge of a major liquidation' in the stock of unsold properties, which may help to stabilize prices, Greenspan said.

Home-sales figures in recent weeks have shown a slower pace of decline, and the slide in property prices has eased, according to gauges including the S&P/Case-Shiller index.