Fiercest Homebuying Competition Is For the Cheapest Properties, Zillow Says
Buyers are flocking to the lowest-priced homes in many markets, according to a Zillow report.
September 13, 2022 5 MIN
Buyers are flocking to the lowest-priced homes in many markets, according to a Zillow report.
Homebuyers have started to back out of some real estate deals as a slowing market gives them more power to negotiate.
Homebuyers have shifted searches to include cities that are cheaper, allowing their monthly mortgages to fit better within their budgets.
Blackstone's Home Partners of America said it will stop buying single-family homes in 38 U.S. markets, another sign the real estate market is cooling.
Competition is starting to weaken, giving buyers more time to find a property before it's snatched up.
A surge in the number of homes on the market shows buyers are calling the shots.
Closing costs add up quickly. You should plan on spending 2% to 5% of the mortgage loan on these addition fees.
During the pandemic, market dynamics favored sellers. Now, several trends point to a brighter outlook for homebuyers.
If you're considering a home purchase, here are some tips to putting together a plan of action.
Here are some steps homebuyers can take to stay within their housing budget.
