If you are reasonably sure of your job, iffy in this economy, it is looking more and more like a great time to buy a home.

There are fewer homes on the market now, and that number has declined every month for the past 12 months, BUT, that is due far more to a construction slow-down than to any significant market improvement.

If you are a first time buyer you should know that single-family home prices hit a new low in March. While things might perk up a bit for the summer, since that is traditional moving season for families, it doesn’t look like the market is going to improve (for sellers) anytime soon.

Foreclosures are having a real negative impact on prices as well, and inflation is keeping many families who might like to move in their current homes.

For more, check out the Reuters’ article from May 27th on this very topic.