Years from now, when people look up the phrase "Buyer’s Market", they will see a picture of today’s date. How can people not want to buy right now? You have low interest rates (some of the lowest in Mortgage history), you have relatively low prices in many markets and you have the tax credit program (which could be as high as 15,000!) for anyone purchasing a single family home right now.
Traditionally, we were accustomed to seeing low interest with high purchase prices or high interest when prices were low. It’s very unusual to get both low interest and low price. Throw in tax relief and it’s just a no-brainer to buy now.