How Buyers Can Prepare for This Challenging Seller’s Market

Nathan Law

In some ways, buying a house today is harder than it’s ever been. But that doesn’t mean one shouldn’t buy. After all, interest rates are still at near-record lows, which means lower monthly mortgage payments and potentially larger home buying budgets. But how do buyers win the house of their […]

In some ways, buying a house today is harder than it’s ever been. But that doesn’t mean one shouldn’t buy. After all, interest rates are still at near-record lows, which means lower monthly mortgage payments and potentially larger home buying budgets.

But how do buyers win the house of their dreams when the odds are stacked against them? As they say, nothing worth having comes easy. With proper planning and a whole lot of patience you can be successful. Here are a few ways to prepare for buying in today’s challenging market.

Understand the lay of the land 

The National Association of REALTORS® (NAR) reports that the median existing home price in May was $350,300, up 23.6% from the same month last year. According to NAR, “this is a record high and marks 111 straight months of year-over-year gains since March 2012.”

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