Reports say home prices are up -- time to sell. New reports say home prices are down -- time to buy. Which is it? Economist, Mervin Jebaraj says he understands the confusion. He tells us, "If you look at the headlines house prices up 1%, house prices down this week. you'd be confused."

Jebaraj says it's important to not take these types of reports at face value -- you have do the research.
They provide accurate information but you have to know when that info was gathered and to what it's being compared. Jebaraj says, "One's comparing monthly data this year so that's positive that it went up 1% this year....but when you compare to the boom last year. you're not going to get up that quickly."

Meaning house prices are on the rise, but nowhere near the level they were just a few years ago. So if you're looking for a good deal on a home -- go ahead and take the plunge according to one economist.


"Sure, house prices are cheap right now and you have the $8000 home credit. So if you have good credit and money to put down 10, 15, 20% then you're in a great position to buy a house right now."