The National Association of Home Builders/Wells Fargo Housing Opportunity Index shows homes remain affordable across much of the United States. The NAHB and Wells Fargo found that 62.8% of new and existing homes sold in the fourth quarter of 2014 were affordable to families earning the U.S. median income of $63,900. This is up from the 61.8% in the third quarter.

Last week, we highlighted the advantages of owning versus renting. In many markets, rents continue to push ahead while home-price appreciation has slowed. But recent news from Realtor.com has us wondering if the advantages of owning are dissipating.

Tightening inventory continues to plague many markets. Realtor.com reports that total listings nationwide declined 6.7% in January and are down 8.7% year over year. This suggests that price growth could start trending higher in coming months. At the beginning of the year, we thought price growth would abate in 2015. We still believe it will if the trend (down) in negative equity continues, but it appears less of a sure thing.

That said, it's still a good time to buy. Yes, mortgage rates have moved higher, but they are still very reasonable. But if economic growth is on as solid a footing as the Federal Reserve believes, rates will become less reasonable heading into the second half of 2015.

So we ask, what's the upside to waiting? We really don't see any.

Information provided by Jessica Regan.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.