Rental prices have continued to rise for 24 consecutive quarters nationwide. This comes from an April 14th article on RealtyTimes.com. This increase is the main reason housing prices don't stay down for too long. The rents set the bottom for the declines in home sales.
The Keller Williams Guide Series' first book, "Your First Home," is a great source for first time home buyers. It shows if you can pay your rent, you can afford a home. Consult with your buyers and let them know that trying to time the market in the short term is the easiest way to to miss the timing for the long term. With interest rates as low as they are now, this is the time to get them to pull the trigger.