Housing, Is It the Right Time to Buy?

February 11, 2011

It may be the best time to buy a house in more than four years.

Home prices have dropped so quickly that valuations - the difference between what a home should cost and its actual price - are the lowest since 2004, and housing affordability is the best in years. Coupled with record-low mortgage interest rates, a slowly improving economy, and improving unemployment rates, it appears that the housing market is beginning to stabilize.

While housing will definitely not lead the way in 2011, as consumers wait for clear signs that the job market and economy are improving, one only has to look at our local communities to see a housing market that is slowly showing signs of improvement.

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