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I say Yes , here are some of my reasons.
For the same amount you qualified before ,to buy a smaller,fixer upper home,you now can buy a nicer,bigger home.It is a win ,win situation.Also at the present time you have less competition ,since the tax credit is gone,now you have more homes in the market,more chance for you to find something that meets your criteria.
Another reason I think now it is a good time to buy a home is the fact that mortgage rates are cheap( that is if you can get one,banks are also more strict in their qualification)a 30 year fix rate is around 4.4% versus 6.3% as it was recently as two years ago.One other thing to keep in mind is the fact that you can deduct your mortgage interest from your income tax( so far).
So, at this time what do you think? let’s see,you can get a bigger home,cheaper mortgage,why not buy a home?
Will prices fall further?? you ask .Maybe? they could,but it doesn’t really Mather so much in the long haul.Right?? you tell me.