Market To Refresh By Fall Forecast Finds

Buying a house is enough to think about without having to keep up with a rapidly changing market. Nevertheless, this year's spring home buyers have had to make adjustments as volatile conditions scrambled budgets and affordability calculations. But while home buyers have faced challenges during the first half of the year, the second half of 2022 could be easier on home shoppers, according to a new outlook from the National Association of Realtors' consumer website. Their forecast says the market may be refreshed by early fall. What does that mean? Well, for one, it means more homes for buyers to choose from, as inventory improves due to increased home building and slower demand. It also means steadier mortgage rates. That's good news for potential home shoppers in the months ahead. Danielle Hale, the website's chief economist, says buyers should remain prepared, though. “Preparation will be key throughout 2022, as it continues to be a seller's market and asking prices remain high,” Hale said. “For buyers who choose to wait until later in the year, take that time to assess your budget so you're set up with a strong financial footing whenever you're ready to move forward.” (source)

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