As we continue to monitor the real estate market, it is important to note that many economists and financial gurus, including Warren Buffet, see a hosing recovery in the works for 2012.  While Buffest was one of the first to make this forecast in February 2011, Barcalys Capital analysts, Stephen Kim recently echoed the same sentiment in a note to investors. The key reasons that many have begun to feel this way are as follows:

• Conservative lending guidelines that gauge affordability relative to income
• Jobs growth
• Decrease in number of Foreclosures
• Rising rents pushing renters to consider buying
• Inventory is at the lowest in 5 years
• Consumer confidence is on the rise
• Affordability is at a record high

Based on these factors, 2012 should prove to be a good year to buy a home, as the market appears to have hit the bottom.