Ec,

Many areas are experiencing a leveling of prices....whether or not this is going to change, no one knows. What we do know is that there are still some great opportunities out there for serious buyers.

What are the benefits of buying now?

1. great inventory of homes to choose from

2. lower prices

3. low interest rates

4. first time buyer incentive

5. motivated sellers

The reason(s) for waiting appear to be to see if prices are going to drop.

Well, if you can find a deal that is at least 10% below the present market value, i dont see any reason for waiting until next year. With that amount of leverage, i believe you are somehow protected for any future drop in the market value. That is, if the market will drop by 10%, what if not?

Hi Ec,
Wait another year, save another 20% on the price. Good Luck

Buyers always want to look for the bottom of the market to get "the best deal" but in all reality, an average homeowner lives in a home 5 years. If you are looking to buy a home and then instantly make money on it, you are really looking as an investor and should look for cashflow which wont apply to a primary residence.

You could wait a few months and see if prices do come down or if you like the home, negioate a price you are happy with a month and can afford. If you think you will move in less than a few years then I would say continue to rent.