Why Now May Be The Best Time To Buy Your Next Home
Now may be the best time to buy a house in over four years. Home prices have dropped quickly and valuations are the lowest since 2004. One recent report indicates that more than 88% of the 330 housing markets surveyed showed price declines and improved affordability during the last three months of 2007.
The report compares actual median home prices with what the authors determine are proper home values based on population density, relative income levels and interest rates, as well as historically observed market premiums or discounts, to determine whether markets are over or under valued and also factors in market intangibles that make some areas more desirable places to live, and more expensive.
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