Signs seem to be telling us that we've hit the bottom of the housing market debacle and may start heading back toward a normal market. Not like in the 2004-2007 timeframe, but a normal market. Unemployment is heading down, the number of foreclosures is likely to stay high but banks are dumping product, and just this week it was announced that nationally, housing starts are up 9% YOY. Interest Rates remain incredibly low, and there is a ton of cash investors have on the sidelines.
For anyone seeking to buy a home, now is as good as it gets. Credit standards are strict, as they should be, so it will be important that the average Joe or Jane get their credit situation straightened out before they can realistically think about buying. But, for the current homeonwer that has been waiting for the right time to sell, the future looks bright. It's unlikely we'll see much more depreciation in house prices, so homes should hold and improve in value.
Just my 2 cents.