As you can see from the answers below from Susana and Rosann it is most definitely a buyer's market, however, the caveat is; its mostly investors who are buying these foreclosure properties. If you have the means to do so, do your research and try to get a home that may need a little work, it could have huge equity potential when the market completely turns around.
If you don't have the means to buy right now, rent as cheap as you can and save until you're ready to buy. I hope this helps.
Brian Carter... more