Why is it in a buyers market, buyers are reluctant to buy? And in a sellers market when it was the most difficult time to buy value in Real Estate they were buying like crazy! No one can predict when the market has hit the bottom, but people who buy during a buyers market are smart! They make a decision by asking themselves "has the market dropped enough to make this a good purchase?" The answer to that question is YES! Interest rates are at the lowest they have been in decades, and contrary what we hear in the news there is credit available.
First time buyers who are waiting for the bottom of the market are spending thousands on rent while they wait, money that could be going towards their own home, Present home owners will watch their home value drop along with everyone else's if it is not the bottom and Investors can make great purchases right now that more than covers their costs, so really there is no good reason to wait. BUY NOW!