That is the question I get asked the most lately. The answer depends on what the person asking the question needs. If the question is asked because someone wants to buy a house at a real steal, then I have to let them know that no one will know when the market bottoms out until the prices start going up again. In some areas, that is already happening. The second factor dealing with that question deals with where the person wants to buy a house. In certain areas house prices are higher than you would think. Also, some types of housing are selling faster than others. It also depends on the price range. First time home buyers are still getting good deals but the houses they are buying are for the most part, selling like hot cakes. So if you were to ask me in general when is the best time to buy a house, actually, most of the time, my answer will turn out to be, all things considered, with interest rates low and prices low, the time to buy is NOW!