Buying a House: Take Your Time This Spring

buying a houseSpring is near, which means the official home-buying season is upon us. But buying a house this spring might be more complicated than most. Joseph Lazzaro of our sister site,, explains why you might want to postpone your buying decsion for a couple months.

If you're in the market for a home this season, and your real estate agent calls or e-mails saying "now's the time to buy," reply that you'll get back to her in a few months or so. That's how long it'll probably take before we can determine if the U.S. housing sector will remain in a sluggish, uneven recovery or whether something worse is in store.

Here's an evaluation of the latest housing reports, from the most sobering to most encouraging.

The Case-Shiller Chiller

The most distressing recent report has to be the S&P/Case Shiller Home Price Survey, whose 20-city index declined a seasonally adjusted 0.4% in December from November, and 2.4% on a year-over-year basis.

Home prices as measured by Case-Shiller have now declined for five straight months -- erasing almost all of their gains since the recession ended in June 2009.


For more insight on mortgages and refinancing see these AOL Real Estateguides:

More on AOL Real Estate:
Find out how to
calculate mortgage payments.
homes for sale in your area.
foreclosures in your area.
property tax help from our experts.
Read Full Story

Can't get enough real estate news?

Sign up for Finance Report by AOL and get everything from celebrity homes to renovation tricks delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

Find a home

Powered by Zillow