Spring home buying season is very different this year than most other years

Spring is normally the hottest time of year for home sales. Buyers get serious when the warmer weather arrives and most families want to move before the next school year begins. Last year, the coronavirus crisis led to a housing market halt in mid-March, as states locked down and house hunters put their home search on ice while following stay-at-home orders.

So far this spring it has been a mad dash for homes. Buyers are no longer confined to their homes and many of them are touring homes virtually and in person. Homes are selling very quickly. Bidding wars are also up. In a nutshell, it’s a red-hot seller’s market these days. So, if you’re planning to buy a home this spring, you might want to find out how much you can afford sooner rather than later.

You also may want to get pre-approved for a mortgage as soon as you can. Having that pre-approval will mean that you’re prepared to write an offer when you find a house that you like. In fact, many sellers are also requiring buyers present pre-approval letters with their bids.

Feel free to reach out to Scott Bennett at 503-703-4699 or scott@altmo.com to talk about your current situation.