From all reports and my own observations - we're seeing the market start to rebound.  Prices are still low and those properties that are priced well are seeing multiple offers.  This is a good sign for the economy.  Those buyers who were waiting for the bottom of the market - well it's here today and gone tomorrow. 

I predict that the remainder of this year the market will continue to stablize and next year we should start to see a gradual increase in market values.

Those buyers who are still on the fence - I recommend you take that step to homeownership.  Don't let fear drive you.  Yes, it's a big step, but one that is well worth it.  As long as you're making an informed decision and understand the terms of your loan, it's an investment in your future.