This summer was one c-r-a-z-y season for real estate.  Homes were selling like crazy, one day on the market with multiple offers.  There were just not enough homes for all the buyers, especially here in Houston.  If you are reading this and you are still wondering if you should be buying, one thing to consider is the interest rate.  Although the Fed decided not to cut back on its bond buying program a few days ago, analysts are saying the day will come when the Fed HAS to.  When that happens, expect 30 year interest rates to go up to the 5% territory.  Right now, we are sitting around 4.5%, but analysts are expecting the interest rate to go to the 5% territory some time mid 2014.

See the article here:
http://money.cnn.com/2013/09/19/real_estate/mortgage-rates/index.html