Americans may have a better chance to find a home in 2022, but will face a competitive seller’s market as first-time buyer demand outmatches the inventory recovery. Additionally, with listing prices, rents and mortgage rates all expected to climb while incomes rise, 2022 will present a mixed bag of housing affordability challenges and opportunities. The bottom line is that buyers need to be prepared before they start shopping around. “You’re going to have to act quickly when you find a home when you want,” notes Danielle Hall, chief economist at Realtor.com.
What can homeowners can do now to put themselves in the best position to find their new home this year? Read here.