While forecasting the economic future is still murky, there are signs of a growing rally in the housing market. Those conditions were the focus of discussions two weeks ago at the 2012 Realtors Conference and Expo in Orlando. Indicators such as housing starts, new home sales and existing home sales are all showing gains in contrast to the last four years.

And that means good news if you're selling or buying. Although, for buyers, there may be a limited window of time to act before the cost of borrowing for a house starts to go up. Lawrence Yun, the chief economist of the National Association of Realtors® believes costs will remain low through 2014, and prices to rise meaningfully over the next couple of years. "Today," he says in this report on Realtor.org, "is a perfect opportunity for moderate-income renters to become successful home owners."

And if you're still not sure, perhaps some of recent moves by billionaire Warren Buffet might peak your interest. Buffet, as reported by Businessweek, has been buying real-estate brokerages around the country and partnering with Brookfield Asset Management. The investments will be very profitable for Buffet and Brookfield if the housing market continues to improve. 

So what does this mean to you? Every market is unique, but in general, if you're looking to buy, you'll want to act as soon as you can, but you still have some time before we see any upward movement on interest rates. And if you'd like to put your house on the market, the time to make the best of the situation is coming. Ideally, you'd like to see the value of your home rise before it gets more expensive for buyers to borrow money. Whatever the case, I can help you stay ahead of the curve and maximize the value of your money.

This blog is maintained by Michael of Kim Hughes & Company.