Expert tips for navigating the 2022 summer homebuying season

Americans have been on a housing buying spree over the past two years, but there are signs the hot seller’s market is cooling off. Real estate data from April and May 2022 shows new home sales falling by 19%. Existing home sales are also declining.

While the summer 2022 homebuying season is still expected to be dominated by a strong seller’s market, it will be cooler than what we’ve seen in recent years. Home prices will likely still rise, but at a slower pace and sellers can expect fewer bidding wars over their houses.

This doesn’t mean buyers will necessarily have the upper hand in negotiations and deals will still be very few and far between, but with less competition for homes in some markets, buyers may have more time to view homes and craft strategic offers.

If you’re planning on buying or selling a home during the upcoming summer season, you’ll want to stay up to date on what’s going on in the market. In this blog post, two of SWBC Mortgage’s top professionals weigh in on what to expect in the coming months.

 

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