Now is a good time to buy for those buyers who qualify for conventional financing (especially first-time homebuyers). There are historically low interest rates, abundant inventory, and stable prices. In addition, private mortgage insurance continues to be tax-deductible
Buyers can focus in on exactly the home they want and not what is "left" in a more competitive market.
It is difficult to predict how long this buyer's market will continue. You often only know the bottom of the market has hit after home prices start to come up. So, if you are ready to buy, now is a good time to do it.
As a result of the stricter underwriting requirements for loans, buyers who are in the market now, are more qualified. This means sellers can feel more confident that their sale is going to close and may be more willing to negoiate.
Also remember choice of realtor continues to be vital in today's market. Real Estate is the most important investment for most consumers...and one where you willl spend most of your life.
Whether you are a Buyer or Seller, finding the right professional is the first step and best choice to managing the process.