In an article written by Lorie Knish for CNBC.com she states “The hot seller’s market in recent years prompted buyers to go above and beyond to seal the deals on their prospective homes, a recent survey finds.” She further quoting an article from Clever Real Estate, sharing that “72% of buyers int he past couple years have regrets about their home purchase”.
As inflation surges to levels not seen since the 1980’s, home buyers dreams are slashed. Diana Click for CNBC states “It is clearly due to the plunging affordability,” said Lawrence Yun, chief economist for the Realtors.
There is a lot of talk and prediction about the future of mortgage interest rates and home sales prices. The variables that lie in the future for both of these topics will happen. What does this mean for those of us who are considering refinancing or purchasing a home? It means that interest rates and home prices may go up or may go down.
Most of the country is enjoying a beautiful start to spring with flowers beginning to bloom and summer just around the corner.
For many, the spring season is a time when they consider purchasing a home. The residential real estate market in spring of 2018 brings with it some challenges for homebuyers as the inventory is limited, prices are increasing, and mortgage rates are on the rise.