SHERMAN TX--The recession has been tough all over, but for folks looking to buy a new home, the slumping economy has meant big savings, but now that the economy is looking to rebound experts say it’s a good time to buy a home.

"The housing market will stabilize, it starting to stabilize now, in Grayson County our inventory is shrinking and that's a good sign that the buyer’s market is coming to an end," said Realtor Dean Gilbert.

Government incentive programs that offer up to 8 thousand dollars in rebates to first time home owners, and historically low interest rates, combined with the resurgence of the market have realtors excited about the future.

"Many, many, many people qualify under that program, and of course that makes buying that first home a whole lot more fun when you have got that help from Uncle Sam to offset the cost," said Gilbert.

Home builders also say that they can see improvements in the housing market.

"I think we are already seeing it come back up, there are a lot of new rooftops popping up out there," said Home Builder Jason Sofey.

In fact, The Grayson, Fannin, and Cooke county home builders association is so sure that the market is rebounding, that they are building a home in Sherman and donating part of the proceeds to local charities.

"We are looking to offer a really good price point on that home, as well as some opportunities for some tax benefits, so if anyone is looking for a new home we are going to have one around the first of the year that's available," said Sofey.