The largest monthly rise on purchases of previously occupied homes in over seven years occurred in April of this year! This could be a sure sign that the real estate sales are on the road to getting back to normal, according to the National Association of Realtors (NAR).

The index of sales contracts rose 6.7% in April, exceeding expectations of most analysts. The main reason for this boost in sales is credited to first-time homebuyers taking advantage of the $8,000 tax credit before Nov. 30, 2009. Prices have not yet stabilized, however all the signs point to a stabilization soon. Median sales prices dropped over 15% in April to an incredible $170,200 and mortgage rates are beginning to rise.

If you're waiting it out, looking for prices to hit rock bottom, you should act quickly, you could miss out on some of the best deals out there.