sandiegointeractive.com

While many potential home buyers may think that home prices and mortgages have dropped to right price, they may be in for a big surprise.

Real estate agents and experts are seeing a large amount of entry-level buyers venture back into the housing market, only to find that they are still out of their price range.  Less than a decade ago, their same income would have qualified them to become homeowners.

In order to get these entry-level home buyers into homes, it would require a continued decline in home prices and interest rate along with an increase in incomes and the construction of smaller houses.

Much of this is due to skyrocketing home prices that were out pacing incomes for the last decade.

The only option is to wait say real estate experts.  Many potential home buyers hope that prices will dip to within their grasp.  Unfortunately there is no way of telling which way the market could turn at this point.