Your opportunity is now.

Forget the negative hype about the housing industry. If you’re waiting to purchase your first home or to move up to an even nicer home, you should note that all of the conditions are favorable now. Consider these facts:

• Kenneth R. Harney, who writes a nationally syndicated newspaper column on housing, said, “Despite the impressions you might get from the network news, the U.S. economy continues to churn out solid, even encouraging, numbers—and that’s important for anyone interested in real estate. Last week the federal government reported retail sales up by 1.2 percent in the past month, and strong growth in new jobs, exports and household incomes. These are the very economic fundamentals that create an underlying base for a national recovery in housing and real estate.”

• David Blitzer, chairman of the S&P Index Committee, said, “People willing to hold properties for a long time could be well served by starting to look at potential purchases now, because over the long term, home appreciation usually pays off.”

• Housing affordability in the Twin Cities metropolitan area has recently experienced a “massive upswing,” according to the Minneapolis Area Association of REALTORS® (MAAR). The MAAR Housing Affordability Index (HAI) increased to 141, the highest rate in nearly three years and the healthiest December HAI figure since 2003.

• Forbes magazine recently ranked our area the number one “Most Affordable Place to Live well” in the country. Forbes noted that the most important criteria in the number one ranking was our housing affordability.

• As of Dec. 26, there were 28,651 homes for sale in the Twin Cities metro area compared to 25,020 at this same time last year, according to MAAR. That’s 14.5 percent more choice for home buyers!

• There is a wide variety of well-priced, quality homes for sale in all communities of the Twin Cities. You can choose from new construction, existing homes, starter homes, luxury properties, condominiums, co-ops, townhomes, and lofts. No matter what type of house you’re looking for or what your budget is, you’re sure to find a home to fit your needs.

• Interest rates on fixed-rate mortgages are at historic lows. Fixed-rate conforming home loans with no points are being offered by area lenders with rates near 6 percent for 30-year loans and in the mid-5 percent range for 15-year loans. Compare that to what the previous generation faced—an average interest rate of 9 percent in the 1970s and 13 percent in the 1980s.

• Home prices are moderating in our area, which is good news for prospective buyers. Home sellers have a better understanding of the changing housing market and are being realistic with their original asking prices, as well as making positive adjustments to their original prices when necessary. Buyers who are interested in a house should make an offer and negotiate with the seller, or they may be disappointed to learn that the house was sold to another buyer.

With all of these favorable conditions, it’s clear that your opportunity to purchase a great home is now.