Real Estate Watch: Home buyers may find the time is right
Low interest rates. Falling home prices. Rising rents. Is now the time to buy a house? Owning is a more attractive proposition than renting in many -- perhaps even most -- U.S. cities. It's more affordable to buy a house today than it has been in ages. In fact, the National Association of Realtors says houses were the most affordable in 2012 than they had ever been since the group began tracking the data in 1970. Today's high affordability combines two factors: low prices and low interest rates, says Leslie Appleton-Young, chief economist for the California Association of Realtors in Los Angeles.