In a competitive real estate market, low inventory and high demand can make home buying challenging. Experts assess market heat by measuring unsold inventory, with a balanced market at six months. Currently, the U.S. has a 3.5-month supply of existing homes. Buyers should explore neighborhoods, understand market trends, and be flexible with their home criteria. Preapproval for mortgages is crucial, and making attractive offers, including larger down payments and flexible closing dates, can help secure a home. Avoid desperation bids and focus on reasonable offers.
Continue to full article