S
pring is here—and with
it comes the most
popular time of year to
shop for a home. But if
prospective home buyers
don't prepare properly,
they could be in for an
agonizing search.
Across the country,
many housing markets
are seeing a record low number
of homes for sale thanks to fewer
existing homeowners opting to move
and home builders constructing
fewer new homes. The sales (and
rental) market is certainly changing
here in the Pacific Northwest with
appreciation slowing and owners
hanging back a little from listing
their homes, all while mortgage rates
have generally increased at a steady
clip. So it is and will continue to be
a tight market in terms of inventory.
But the good news is the market is
turning slightly from such a drastic
sellers market to being a little more
evenly played between buyers and
sellers. Less multiple offers, fewer all
cash offers. So, if you have been sitting
on the fence the past few years now
might be a good time to dip your toes
in the water for a home purchase.
However, this does not mean that
homebuyers need to prepare less. This
is still a big purchase and banks are
still very stringent about who they
offer loans to.
Spring Home
Buying Prep
