Is it the right time to buy

Wait for atleat a year

The answer will be different for each geographic area. Waiting one year is not necessarily the correct answer.

I think it is different for different geographic locations and also depends on several other factors like Interest rate, Economy, Inflation and availbility of credit.

But I think we should vote not accoutning those facotrs. Just takign the whole US in to account

Hi helpplease,

I think this is the best time to buy the house. The price of properties is on the decline. The rates on fixed rate mortgage loans are quite low. Waiting for the price of properties and interest rates to drop further might not be the best of ideas. Moreover, if you buy the house before 1st December, you may qualify for the $8,000 first time home buyer tax credit.

9 Months

there is no "correct" answer. the timing of a purchase is wholly dependent upon a buyer being ready. if you are ready and you meet guidelines, there's no reason to hesitate. if you're interested in the tax credit, the time is right because that credit expires on 12/1/09. if you think prices will drop, then you'd better have a basis for that belief if it means you're going to wait for the right price range.
buying now makes sense to me, though.

I would say wait as long as you can

6 months