For the first time in 13 years, home prices are falling. This is Bad news for those getting ready to sell. If you have a lot of equity, now might be the best time to get it out and invest it in something stable and liquid with a real rate of return, rather than seeing your equity disappear with lower home prices.

However,  if you’re getting ready to buy your first home, falling home prices are great for you, and will allow you to buy more home, for the same money, than you might have gotten even a few months ago. You’ll definitely want to take advantage of falling prices if you’re currently looking for a home.

Whether this is good news for you or bad, it’s also a reminder to keep abreast of what’s going on in the housing market, as an owner or a prospective buyer.