We buy new linens in January because of "white sales." We buy school supplies in the summer because "back to school" sales are great. And we buy cars at the end of the model year because we know dealers are willing to negotiate.

Now, home buyers are looking to the real estate market for a good "deal".

Housing prices are starting a steady climb, indicating confidence in the economy and job market.

Mortgage rates are at near historic lows. Housing at a good value and low mortgage rates set the stage for singles and families who want a good buy and a good investment.

Housing prices are no longer in free fall

Economists state the housing market is on the comeback. In the final months of 2012, prices of home sales started rising at a pace of more than 7 percent. New home sales also jumped.

According to Fiserv (FISV) Case-Shiller, home prices will increase by 3.3 percent over the next five years. Fiserv reports 2012 was the first year since 1997 that the housing market resembled something close to normal. From 1998 until 2006, when housing prices peaked, home prices grew by more than 5 percent per year. However, when the housing bubble burst, some home prices dropped by as much as 30 percent.

With the economy recovering, home prices appear to have hit bottom and showing steady and healthy increases. Right now, homes are very affordable.

Low mortgage rates are historic

For people looking for a good bargain, buying a home is most likely cheaper than renting a house or apartment. The cost of renting over the last several years has increased.

Mortgage rates are currently near or at a historical low.

Comparative shoppers can examine the cost of rent to a low mortgage. Most find home ownership to be less than rent. Factor in tax benefits and IRS deductions for mortgages, owning a home is almost always a savings.


Buying a house now makes good cents

Bargain hunters who want a good investment on their return see now as an opportune time to buy a home. Housing is expected to steadily increase in value over the next several years.

According to Barclays, the bank is forecasting a 6 to 7 percent price gain this year in housing and 5 to 6 percent next year.

It's no longer a dream, it's a reality

The price of homes is right, right now. Mortgage rates are extremely low right now, but will most likely increase as the economy picks up. Home ownership is a good investment because most likely it will sell for more than you paid for it.

Home ownership is no longer an American Dream. It is an American Reality. 

Start shopping now

This is not the time to be frightened away from the housing market. Now is the time to check the inventory of homes in your market. The number of home foreclosures is down. However, the number of new homes on the market is also in short supply.

A smart shopper will compare and act.

Evaluating homes on the real estate market is easy. Contact Old Colony today for home buying advice.