The Outlook for Home Buyers This Spring: Not Terrible

The pandemic-fuelled home-buying frenzy is over, but hopeful home buyers shouldn̵7;t expect an easy process this spring.

Working against buyers is a persistent lack of affordability when looking at the average single-family existing-home price

up 4% over the past year to $378,700, according to the National Association of Realtors. mortgage rates hovering above 6%, with more rate hikes to come. In addition, inventory levels remain low Since nearly 70% of homeowners Have a lock-in low mortgage rate.

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