Realty Times has said it before and we'll say it again. Home prices have dropped, inventories are at 10-month supplies, and interest rates are hovering near record lows. If those aren't buying signals, nothing is, but the National Association of Realtors reports that buyers are timing the market and waiting for better deals.

That's an improvement from being scared to death, and it could mean the bottom is here.

NAR has missed some forecasts before, but this time there may be something to the trade association's announcement that a recovery could come as early as spring or late 2008.

NAR Chief economist Lawrence Yun believes that four million jobs added to the economy over the last two years is burning a hole in buyer's pockets. Pent-up demand will finally start to move housing back into the plus column.

Existing-home sales for 2007 will probably total 5.66 million to reach the fifth highest year on record. Housing values lost 1.9 percent, but values will recover by 2009 with a 3.1 percent gain.

NAR says housing sales will rise to 5.70 million and to 5.91 million in 2009.

What will lift sales and prices is rising demand for affordable areas such as the Midwest, says NAR. And stable mortgage interest rates under 6.3 will take the hurry out, unless buyers want to get under six percent. If so, they need to act now.

Inflation will be offset by rising disposable income at about 3.1 percent

It sounds like market timers were already at work in 2007, and they could put 2008 back into the record books.

Remember, the buyer's market is over when someone buys the home they want. Check Realty Times' local market conditions or your Realtor to see if the timing is right for you to buy a home.

Published: January 9, 2008

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Blanche Evans is the award-winning senior editor of Realty Times, the Internet's leading independent real estate news service. She is featured daily on the Realty Times Video Network in the "Realty Viewpoint" segment. Blanche has been named one of the "25 Most Influential People In Real Estate" by REALTOR Magazine, and has been twice recognized as a "notable." In 2005, she was named "Top Reporter Covering the NAR" by Delahaye-Bacon's. Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. To contact Blanche, email her at . For more articles by Blanche, click here.