Purchasing a new home in today's market, It's smart? That's the question you often can heard from many individuals. It is hard to consider that buying a home is a smart decision due to the economic difficulties experienced around the world. Nevertheless, even in the present housing market condition, it could still be considered a smart move to buy a new home. The National Association of Realtors' said that homes are affordable now, which means you will not be stretching every month to pay your mortgage payments if you buy a home within your budget.

In purchasing a home you should have a good steady income and an outstanding credit score. Having these will give yourself a chance to get a mortgage at a good rates. I believe that today is still the best time to buy a home or move to the home that your are dreaming of. The market as of this moment is considered as the buyer's market which mean buyers have more options in the number of homes for sale in the market and home features as well. I'll have to say that owning a home is still the best investments even in this kind of economy that we're on today.

Latest forecasts and surveys reveal that housing market is expected to have better times ahead in the next year.

Early last year, forecasting firm Fesirv have forecast a downfall in home values by almost five percent in 2011, and the nation’s major metro areas values would fall in the first-three quarters. That prediction made by the firm is not that far off the mark based on how the market performs this year. The firm has recently released another forecast for the incoming year and it says the 384 metro areas it tracks will experience an increase in home values of around 95 percent.

The MacroMarkets as well conducted a survey that participated by 100 real estate professionals and economists, respondents reported a modest increase in home prices in 2012 at 0.25 percent. Many surveys and economists are forecasting a minimal hike in prices in the new year. However, that slight increase would be a great sign for the housing market recovery.

The huge number of foreclosures that are currently on the market is the major factor that prevents home values to stabilized, economists say. But with the help of affordable housing and mortgage rates that hovering near the record lows, there is a huge chance the housing market to bounce back in 2012.