Is now the time to buy a house?

There is a lot of talk going around lately as to whether or not the time is right to purchase a new home.  “Housing prices are at rock bottom!”.  This is what some people claim.  However, these are probably the same ones that bought or tried to convince you to buy a house from 2007-2009 right?  Here is my opinion.  Take a look at this chart which is pulled from Zillow showing national average value of houses.  You can see that it “appears” to have started its bottoming out phase.  So yes if you want to make a risky move then purchase a house now.  I personally would wait until this flatline starts to point upward.  Sure you will pay a slight bit more.  But look at the bright side at least you’re not trying to pick the bottom and you’re making a wiser investment.