4 tips to avoid overpayments 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 bidding wars and forgoing contingencies.

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

However, with mortgage rates trending sharply higher in the first half of 2022, the real estate market is starting to cool off. Suddenly, home buying strategies that seemed absolutely necessary in March no longer make sense.

So what has changed? Pretty much everything.

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