4 Tips to Avoid Overpaying in Today’s Changing Housing Market

Since the start of the coronavirus pandemic, homebuyers have become accustomed to overpaying and playing a risky game of bid wars and waived contingencies.

In a recent survey by Money and Morning Consult, 36% of people who bought a home in the last two years said they believed they had paid too much. The survey also indicated that recent homebuyers were willing to compromise on home size, style, location, and features to buy a home.

But with mortgage rates rising sharply during the first half of 2022, the housing market is starting to cool off. Suddenly, home-buying strategies that seemed absolutely necessary in March may no longer make sense.

So what changed? Practically everything.

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