What to expect when you're buying a house in 2022
What to expect when you're buying a house in 2022
A shortage of homes has fueled competition among buyers in the last few years.
A shortage of homes has fueled competition among buyers in the last few years.
But the supply has improved since summer this year.
But the supply has improved since summer this year.
Here's what you can expect as a home buyer in 2022.
Here's what you can expect as a home buyer in 2022.
Higher mortgage rates and steep home prices.
Higher mortgage rates and steep home prices.
Competition is still hot for modernized, move-in ready homes, but not so much for properties that need work.
Competition is still hot for modernized, move-in ready homes, but not so much for properties that need work.
Down payment requirements can be as low as 0% for some mortgages.
Down payment requirements can be as low as 0% for some mortgages.
If you expect to live there for a decade or longer, you'll likely be able to refinance your mortgage to a lower rate.
If you expect to live there for a decade or longer, you'll likely be able to refinance your mortgage to a lower rate.
There's also talk of a looming recession. If you wait to buy you could avoid potentially overpaying for a home.
There's also talk of a looming recession. If you wait to buy you could avoid potentially overpaying for a home.
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