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Is the housing market going to continue to drop and for how long?

My wife and I plan on buying our 1st home soon within the next yr but really want to wait till the housing market is at it's lowest.

Public Comments

1. No one really knows; predictions are all over the place.
2. As long as there is too much inventory and few buyers, the market will continue to decline. No one knows when the bottom comes. If you plan on staying in your home for several years then anytime is a good time. Buyers have the upper hand right now, if your credit is good, you have saved a good down payment, go for it.
3. let us consult our crystal ball here ........ guaranteed accurate, you know especially as we have no idea of where you are.
4. God knows. BUT, historically, few people go house hunting during the winter. But come spring, people may be coming out and looking, and the more people look, the more sellers ask. An upturn will be subtle. It may start but be several months before enough data comes in to make it be noticed. This will be one of the biggest decisions the two of you will ever make in your life.I wish you the best.
5. its a lot lower in the state of Austrailia ( its down under ) lol
6. Yes, well, good luck on that. Not ALL housing markets are dropping, ya know? Only in some areas. And like my grandfather used to say, if you buy a house, and sell it 25 years later for exactly what you paid for it, you've lived the past 25 years totally rent free.