Home buyers aren’t going to catch much of a break this year. According to CNN, that is. Here’s a brief blurb from their recent article ‘Is 2018 the year to buy a house?‘”
Sellers will remain in the driver’s seat as buyers continue to face affordability issues thanks to low housing supply.
“The challenges for buyers in the market haven’t changed that much from last year” said Keith Gumbinger, vice president of mortgage website HSH.com.
What’s more, home loans are expected to get more expensive as the year progresses.
Here’s what home buyers and sellers can expect from the housing market this year”:
Homes will remain in tight supply
Home prices will slow
Loans will get more expensive
Read CNN’s article in its entirety here: “Is 2018 the year to buy a house?“
Potential homebuyers can face challenges to buying a home.
What difficulties to they face?
- Saving for a down payment (need help on saving/not spending as much? Check out my Money Monday posts!)
- Lack of houses for sale (real estate inventory)
- Difficulty getting financing and credit
- Personal debt (I have some tips in my past Money Monday posts!)
This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS at CAR.org.