There is much speculation within the real estate industry as to when the house prices will stabilize. If you ask around, you'll soon find that there are as many different opinions as there are people.
In my opinion, now is a perfect storm. House prices have come down and interest rates are extremely low. Now is a great time to take advantage of the recent market and get into a home.
Here's a link to an article that appeared in today's Edmonton Journal which predicts that house prices will stabilize in 2009 and begin to increase as the economy picks up steam in 2010. '09 House Prices to Stabilize