With home prices still relatively low and mortgage rates trolling near their all-time best levels, home affordability is extraordinarily high in most U.S. markets.

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CNNMoney.com recently published its 2010 forecast and projections for home prices in the country’s largest metro markets. Listed as “Top 25″ and also comprehensively by state, CNNMoney.com’s home price forecasts puts Santa Rosa, California at the top of 2010′s home appreciation list and Hanford, California at its bottom.

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In November, Congress extended and expanded the First-Time Home Buyer Tax Credit program to include a subset of “move-up” buyers — homeowners that have owned and lived in their home for 5 of the last 8 years. The credit ranges up to $8,000 per buyer. There’s now just 7 weeks left to take advantage. To be eligible, home buyers must be under contract for a new home no later than April 30, 2010, and must be closed no later than June 30, 2010.

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Consumer Sentiment has been on the rise since last February and it’s something to which home buyers should pay attention. The affordability of your next home may hinge on consumer confidence.

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As the housing market improves across the country, certain cities are emerging as relative bargains.

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More positive signals from housing — home values are still on the rise. According to the Federal Housing Finance Agency, after posting its first quarterly increase since 2007 this past September, the Home Price Index rose by another 0.6 percent in October. Prices are up in 4 of the last six months.

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