Time to Buy or Sell?

Although the housing market has lost its upward momentum, it seems to me that this trend only helps to bring the market back to reality. In the last few years the prices were getting out of control and home buyers had a very difficult time to find a new home or to even find a first home without getting into a dreaded bidding war.
 
Speculators who changed a few things around, implemented some renovations, and put the home back in the marker for thousands more, snatched up houses that were priced more reasonable. The time for speculators are over, and if you are planning to flip a house you can easily get burned.
 
Lower than average mortgage rates, and an even market provide a great opportunity to buy a home now. Although many people speculate that prices will drop, current data shows that although inventory is rising, prices are still going up (in some areas over 10% compared to last year). If you are a first time homebuyer, you must consider the low mortgage rates, your current rental cost, the possibility of the real estate price fluctuation, and must make your decision based on all the facts.
 
Homes that are priced right are still selling for asking price or more but instead of selling in a few days, they are likely to stay on the market longer. Also, do not forget that the summer months were always slower than the spring and fall market.