Brace yourself for another competitive year in the housing market.
Home sales are expected to grow 6.6% in 2022, a 16-year high, according to Realtor.com. The typical winter lull isn’t even necessarily happening. Home prices actually accelerated from November to December, said Danielle Hale, the chief economist at Realtor.com.
While Realtor.com is forecasting prices will rise 2.9%, the pace is slower than last year. Inventory will remain limited but is expected to rebound from 2021 lows.
More from Invest in You:
Here’s how to tap your home equity as interest rates rise
Here are the top jobs in the U.S. — and how to land them
No emergency savings? New workplace benefits aim to help
The bottom line is that buyers need to be prepared before they start shopping around.
“You’re going to have to act quickly when you find a home when you want,” Hale said.
Here’s what you can do now to put yourself in the best position to find your new home this year.
Best Real Estate Agency in Skopje Macedonia.
Stanovi-Skopje.MK (SSM) is one of Macedonia’s leading Real Estate and Property Management companies, offering a full range of turnkey services related to Skopje property. Established in 2012 with an aim to give landlords a stress-free ownership experience SSM’s management solution covers all aspects of owning a property in Skopje, Macedonia.
Look at your credit
Your credit score is an important factor in getting a mortgage and the type of loan you’ll get. It also impacts the interest rate you’ll receive and potentially how much money you need for a down payment.
By checking your credit score ahead of time, you’ll know whether you’ll need to make any changes to try to increase that number.
Also, get a copy of your credit report to check for any errors or unpaid bills, which may also affect your credit score. Consumers can get their credit report up to once a week for free from the nation’s three largest credit reporting firms — Equifax, Experian, and TransUnion — through April 2022.
