MADISON, Wis. -- Economic indicators appear to suggest a tentative recovery from the recession is in progress and some financial forecasters are suggesting now might be the ideal time to buy a new home.

The real estate market is usually tilting between being a buyer's market or a seller's market. Now, the answer seems to be a little of both.

With sun over an area house and the for sale sign on the frontlawn, potential homebuyers are out browsing this weekend.

Among those looking is first-time buyer Scott Friemann and his wife. They said that they have a lease that's up in August.

"(We're) looking now just to see what the market has, and if we do find something that would be more of a fixer-upper, at least we'd have time to renovate before we could move in," he said.

As first-time home buyers, the Friemanns still have time on their side. The federal government is still tossing in an $8,000 tax credit if they buy a house now.

Real estate expert Anne Blood, of Madison College, said that key interest rates might be changing.

"An offer has to be in on a home by April 30 and closed by June 30," she said. "Everything I'm reading is that some point, interest rates are likely going to have to go up. They're very low right now."

She and other experts predict that will slow down the market, but shoppers likely have three to six months more to peruse and decide before that happens.

Despite these conditions, First Weber Realtor Suzy Favor Hamilton said that she is seeing homes move very quickly.

"The properties that are selling are the properties that are updated, in great condition and obviously, they're priced right. They're selling really quickly right now in Madison," she said.

As positive as that is to hear, Friemann said he's more interested in the right home than the "right now."

"If I can make a deal before the end of April, that'd be great. But at the end of the day, if I'm looking to buy a house, I'm going to buy what's right for me, not what's right with the calendar," he said.

There's also a lot of talk about whether that first-time homebuyer tax credit will be extended again or even made permanent. Real estate experts said that there's been a lot of discussion about that, but nothing that makes them believe it will happen any time soon.

Stay tuned to WISC-TV and Channel 3000 for continuing coverage.