Although the housing market has caused a lot of problems for those looking to sell their house, it has opened the doors of opportunity for many others.

Housing affordability has long been an issue in today’s society.

As housing prices skyrocketed during the real estate boom from about 2000-2005, many potential homebuyers were shut out of the market. Prices doubled and even tripled in some parts of the country, causing many people to find buying a house an utter impossibility.

But now, as we start to see sellers become desperate to get rid of their homes and are slowly lowering their prices, many potential homeowners are finding now is the right time to buy.

They don’t call it a buyer’s market for nothing, now do they?

A November 15, 2006 article by Kristin Downey of The Washington Post, “In a downswing, looking up,” features different people who have been able to make the transition from renting to buying thanks to the slowing market.

“Kristy LaLonde, who rents an apartment in Crystal City, spent the past four years ‘freaking out’ as home prices here climbed relentlessly. She feared she would never be able to own the kind of place she had been raised to expect. Now, she's feeling better.”

“A dramatically slowed housing market has disappointed home sellers and left real estate agents waiting for the phone to ring. But it has brought relief to would-be homeowners such as LaLonde, 29, a federal policy analyst, and her fiancé, Gregory Daphnis, 35, a project manager for a health insurance plan.”

The couple was able to purchase a red-brick colonial in a suburb of Washington because the seller lowered the price from $499,000 to $435,000.

It is these same lowered prices that have enabled many people to get into homes that they thought were unreachable.

“Still, over the past year, as the number of available homes for sale has climbed, prices have flattened or fallen. That has propelled some buyers toward homes that had slipped beyond their reach. It has allowed them more time to shop and afforded them a greater selection. It has also made sellers much more willing to help with such things as closing costs.”

Not only are people who want to buy a home for the first time finding this market optimal, but existing homeowners who want to trade up to something bigger and better are also finding this environment perfect.

“For Deanna Behnken, 26, part of the pleasure of her recent home-buying experience was that she felt no sense of urgency. In late 2003, when she and her husband, Corbin, bought their townhouse in Gainesville, they felt pressured to buy quickly because they feared if they delayed; the property would be snatched up by someone else.”

Now, they took their time and found a home with every state-of-the-art amenity that just had a price reduction.

Whether you are a first time buyer or a homeowner looking to trade-up, there has never been a better time to buy.