Now is the best time to buy real estate despite uncertainty in the US market, according to a new Housing Predictor survey.
Nearly two-thirds of those surveyed said that now is the ideal time to buy a home or other real estate.
Only 38 percent said the current economic environment makes it too risky to take the plunge, despite record low mortgage rates and home prices at the lowest level in decades.
Foreclosures are near all-time levels supplying the U.S. housing market with an oversupply of discount priced homes in many regions of the country, driving home sales higher with record low mortgage borrowing rates.
The six year slowdown in home sales in many areas of the nation has been transformed with a tighter inventory of homes to choose from, including some of the hardest hit cities.
There seems to already been an upturn in home sales. Purchases of brand new, single-family homes rose by 3.3 percent in April, according to data released Wednesday from HUD and the U.S. Census Bureau.
On a regional basis, new-home sales rose 7.7 percent in the Northeast, 28.2 percent in the Midwest and 27.5 percent in the West in April. The South was the only region to post a decline for the month, of 10.6 percent.
