3 Mistakes to Avoid in Today's Housing Market

To say that today's housing market is a tough one to crack would be an understatement. In January, the median existing home sales price reached $350,000, representing an annual increase of 15.4%, per the National Association of Realtors.

Furthermore, as of the end of 2021, inventory of unsold existing homes fell to an all-time low of 860,000, representing just 1.6 months' worth. For context, a healthy housing market where neither buyers nor sellers have the clear upper hand generally takes more like four to six months' worth of inventory.

Because these are such tricky times for buyers, it's important to approach the process of purchasing a home with the right strategy. And that means avoiding these three major pitfalls.

Source Fool.com