06/03/2022
It is Definitely the time to buy. In the past 30 days, interest rates have jumped by 1%. They're expected to continue to increase. Getting a mortgage rate locked in now with your lender is an excellent idea.
While it is a seller's market, buyers are still having success. It depends on many factors like your realtor, your lender, your personal situation, and how ready you are. If you're ready to roll, you have a solid pre-approval, and you're working with a dedicated realtor, there's no reason you can't buy a home right now.
Once your offer is approved, it can take from 10 days with cash, to 45 days depending on your lender and loan type to close. Before an accepted offer, it could take months to find your home, or just a few days. It depends on what's available and how many non-negotiables you have. It also depends how motivated you are. If you're not committed to buying but casually browsing, it will take longer.
I hope that helps. I'm a realtor and I've helped buyers successfully win bids in this market. Send a message or give a call if you're still looking for someone to work with.
