When a consumer decides they want to purchase a new home, what are the ideal market factors? A low price on the property and low interest rates on mortgages, of course. The other piece of the puzzle is availability of a quality housing product. Today's housing market has these three features, perhaps more so than in several decades.

According to many experts, there will never be a better time to buy a home than in 2009. The market is expected to turn around later this year. As demand for housing increases, so will prices. While we have seen property values decrease in Central Ohio, values have decreased far less than in many other areas of the country, proof of the long tradition of our stable housing market. When values were increasing by double digits in other markets, we continued to see 3 to 6 percent appreciation.

Also, with 15-year interest rates looming around 5 percent, and 30-year rates a little higher, rates are at historical lows. It is true that lending standards are tougher and down payment requirements are higher. But if you meet the criteria, you can get yourself into a great home at a very affordable price.

The third key to a good home-buying deal is inventory. Consumers looking for a home want choices. In today's market, you can find the house that meets your family's needs in the location you desire. During the housing boom, consumers often felt an urgency to bid on a property for fear that it would be snatched out from under them. Today, consumers can afford to take a little time and find the right house, with all of the features they want. It's a buyer's market.

And for those interested in building their dream home, the timing couldn't be better. There is an abundance of lots available in beautiful new communities around Central Ohio.

If you have a house to sell, any concessions you have to make will easily be recouped on a new home. It's no secret that the housing market will lead to an economic revival in Central Ohio and around the country. If you are considering buying a new home, there may never be a better time than 2009.