Robert Shiller, co-creator of the Case-Shiller home price index and one of the few who publically proclaimed that we were in a housing bubble, is asked by Bloomberg to comment on several different datasets. He makes the important distinction between short-term measurements and overall trends, with a particular emphasis on the consumer confidence numbers.
Dr. Shiller is asked if he believes it is a good time to purchase a home, at least for someone who expects to be in an area for an extended period. His reply is yes, for someone who thinks they will stay somewhere for a job, it could be a good time to buy. Further, he sais that it is harder to forecast mortgage rates, which are now very low. This is another important consideration.
Please find the interview here: