Should You Buy A House In The Spring: Spring Market Outlook & Tips for Home Buyers and Sellers
You may have heard that spring is the best time to buy a house. Despite the warm weather and changes in people's behavior around this time of year, is spring really the best time to buy a house?
This years spring housing market is going to be hotter than ever. With the combination of low inventory, increasing prices and mortgage rates, as well as increasing demand, buyers and sellers alike may find this market tougher than ever.
Tips for buyers and sellers this spring
Home Buyers: Know how much house you can afford. Before you even start looking at homes, meet with your loan officer and figure out how much you can be pre-approved for.
Sellers: While demand is still high, you may not want to bank on intense bidding wars. It’s important to recognize your position in this market and how to best show up for prospective buyers.
Home Buyers: Be prepared! Due to the low inventory and heavy competition, homes will continue to fly off the market faster than they come on.
Sellers: Be prepared! If you know you are going to be selling your home this year, get ahead of schedule and start your home maintenance and major upgrades now.
Whether you’re looking to buy a new home or sell your existing home this spring, the most important thing to remember is that you should do it all in your own time. Consider all aspects of your specific situation as well as your local housing market to make an informed decision about the best time for you to move forward.
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Source: https://www.realtor.com/research/2022...
Copyright©2022 Fairway Independent Mortgage Corporation. NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-866-912-4800. All rights reserved. Pre-approval is based on a preliminary review of credit information provided to Fairway Independent Mortgage Corporation which has not been reviewed by Underwriting. Final loan approval is subject to a full Underwriting review of support documentation including, but not limited to, applicants’ creditworthiness, assets, and income information, and a satisfactory appraisal. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without notice. Fairway is not affiliated with any government agencies. These materials are not from HUD or FHA
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