First-time homebuyer? Real estate experts offer advice in crazy market

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How can first-time homebuyers navigate the homebuying process without becoming burned out, deflated or giving up altogether? Real estate experts weigh in.

, the current average interest rate for the most popular 30-year fixed mortgage is 3.91%. The NAR projects the 30-year fixed mortgage rate will close the year at 3.9%.

"Inventory is terrible. There really is nowhere near enough to meet the very high demand. We are seeing between 10 to 20 and more buyers for every home, driving prices up on a weekly basis," Melendez added. The exodus out of California, New York and similarly expensive housing markets due to the development of work-from-home flexibility for employees is also impacting the housing market.

But, Yun said, increased construction in other areas, especially the suburbs, could move the U.S. housing market towards a more balanced condition.

 

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Putin has swallowed the American bait and has been dragged into the Ukrainian battlefield, and imposed sanctions and embargo restrictions economically and technologically in an explicit attempt to exhaust Russia economically and make it weak and divided

Make sure you’re aware of any community concerns for new development. In case a project starts and becomes something you didn’t expect.

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