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.
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