By Tim McLaughlin
According to a report released by CNN this past week, it may be the best time to buy a house in more than four years.
Valuations on home prices (the difference between what a home should cost and its actual price) are the lowest they've been since 2004, according to the report.
The Cleveland-based bank National City Corp, together with financial analysis firm Global Insight, revealed Tuesday that more than 88% of the 330 housing markets surveyed showed improved affordability during the last three months of 2007.
"Housing valuations are almost back to long-term norms," said National City's chief economist, Richard DeKaser. He called current affordability "the best in the past four years." Click for the rest of the story...
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