Click on this link http://blog.coldwellbanker.com/hey-case-shiller-its-not-the-end-of-the-real-estate-world/ and read a very resaonable assessment of what is happening in the housing market and why it "maybe" the right time for you to consider buying your 1st home or moving up to your next one.  As this blog post states and what we have been saying on http://www.facebook.com/realestatemaatters , the buying and selling of real estate continues to be local and therefore you can't make your decisions based on regional or national statistics.  What you can take to the bank is that increased inventory and low interest rates are giving buyers a window of time to buy something for the 1st time, move up, or downsize.  if you are in any one of these categories, you owe it to yourself to take a look and decide whether now might just be the right time for you.