If you’ve tried buying a home over the past few years, you likely hit the same two frustrating brick walls: sky-high asking prices and a ghost town of available. Here is a look at what the latest real estate trends mean for your home search.
If the first half of this year left you feeling stuck, you’re definitely not alone. Mortgage rates stubbornly refused to budge, affordability remained razor-thin, and unexpected geopolitical pressures threw everyone a curveball.
Remember just a few years ago when home buying felt like a wild sport? Sellers held all the cards, and buyers were practically forced to offer way over asking or wave inspections just to stand a chance.
For the past few years, "affordability" has been the giant "STOP" sign in the middle of the road for most homebuyers. You probably did the math, looked at the monthly payment, and decided to sit this one out until things "got better."