Most everything about the housing and mortgage landscapes right now is dictated by three factors: limited home inventory, low mortgage rates and the ongoing coronavirus pandemic recovery. Here’s how those trends played out this week.
1. When sellers become homebuyers, they lose their edge
Mostly because of the aforementioned limited home inventory, real estate transactions are happening at breakneck speeds. That’s great for sellers, but when those same sellers turn around to buy their next home, they find themselves shoulder to shoulder with hordes of other buyers competing over that scarce supply. If you don’t plan ahead for simultaneous real estate transactions, you could wind up without a place to live for a while. Here’s how to avoid that fate.
2. Shopping for your mortgage remains crucial