1. Interest rates are low.
2. Buyers are in a better position to negotiate.
3.Our market (Puget Sound market anyway) is experiencing a 'price correction', which is great for buyers!
4. There are currently LOTS of homes to choose from.
5. The market has brought new construction prices closer to those of existing homes.
6. Here in the Pacific Northwest, prices are projected to only go up.
7. Homes are less expensive now than they will be in the Spring. (And who knows where interest rates will be then?)
8. For new construction, there are now all kinds of builders incentives and warranties that may not exist in a seller's market.
9. Sellers are much more willing to negotiate.
10. It's a good time to move up or make a lifestyle change.
11. Avoid the hassle of remodeling your current home(just make sure that if you sell it that you list it for a realistic price).
12. Money is becoming more available since the summer's mortgage "crunch".
13. For new construction, there are now more options, upgrades and flexibility.
14. You may be able to find a home that's more energy-efficient...and
15. As with stocks, you can always shop for the lowest price but you will never find it. Why not just negotiate it?
I read a quote the other day that said something to the effect of, "Today's crises have always turned out to be golden opportunities in retrospect."
If you're trying to time the market, please reconsider. I know people who've been trying to do that for a year, two years, and prices have only gone up; even if they go down now, they'll never be where they were 2 years ago.
If you have the desire to buy a home, especially if you're a first-time home buyer, there's no time like the present!