So you're looking to buy a home. You're interested in a mortgage loan. But you're wondering: You've heard some good news recently regarding the U.S. housing market. Has a recovery begun? And will this mean you'll pay higher prices for a home?

In a word, "No."

Yes, there have been some signs that the housing market is stabilizing. But it is still struggling significantly. This report from CNNMoney.com, shows that U.S. homebuilders built a record-low number of new homes this April. This is a sign that the housing market here still hasn't recovered.

According to the U.S. Commerce Department, housing starts fell 12.8 percent in April when compared to March. Homebuilders are now on pace to build 458,000 new homes this year. This is the lowest amount of new residential construction since the government began keeping track of new homes in 1959.

This means it's still more than possible — it's likely, in fact — for homebuyers to find great bargains on homes in even the most desirable neighborhoods. I cover the residential housing market in Chicago for newspapers and magazines. I can tell you, that homes in even the top city neighborhoods here are selling for incredibly affordable prices.

This is especially good news for first-time buyers who may not have a ton of money to throw at a new home. Cheaper homes equal smaller mortgage loans. And that's something any homebuyer can appreciate.