Though the market did slow a bit in 2007, we still did end up with the 4th highest sales totals in the history of our local MLS. Not bad. It's also interesting to note that as compared with years past, a large number of sales are not are recorded in the MLS. The reason: builders like Ryan Homes make many sales that do not get plugged into the overall data.
Seems to me that 2008 is off to a nice start so far...we'll see where it takes us.
I know you've probably heard it everywhere, but the stabilization of the market is great for buyers...especially with the fantastic interest rates. And I'm not just saying that - I'm buying (building) right now because I see it as a great opportunity.
The key to remember is that it's impossible to time the market perfectly - we won't know when we hit bottom until 12-18 months after we've already hit it.
If you love a home, you think it is a good value, and you can afford it...go for it.
2007 Market Report