According to a recent publication from the National Association of Realtors, now is the time to buy as the prices are going to hold and then go back up.
Lawrence Yun, NAR chief economist, said sales activity is expected to remain soft through the first half of the year despite a generational low in mortgage interest rates. “Household formation was only half of what it should have been last year given the demographics of a growing population and sustained job growth, so there clearly is a pent-up demand from buyers who are on the sidelines,” he said.
What that boils down to is the home prices are about as low as they will get and the interest rates on home loans are about as low as they are going to get. Soooooooo now is the time to buy. You will never find a better time than this in the next twenty years if history holds true. Then there will be another market adjustment, like the one we had twenty years ago. Just the way the economy works, so if you have been waiting for the bottom, looks like we are here so let's start looking around for a good one you would like to call home.