There is an expectation that this year's market won't be quite as competitive as last year's. In 2021, homes sold quickly, bidding wars were common, and buyers had to be prepared and decisive when they found a house that fit their needs. A significant share of homes sold were on the market for just weeks and, in some cases, only days before being swept up by an interested buyer.
But while the housing market may not be as hot as last year, it will still be hot. In other words, home buyers should be ready to act fast, if they find a good house. But how fast are you willing to be? How long after seeing a house would you need to think it over before making an offer? One recent survey of prospective home buyers found two thirds of respondents willing to make an offer within three days of viewing a home. Some were willing to move even faster, with 20 percent saying they'd make an offer immediately. It's a good question for potential buyers. How comfortable are you making an offer on a home without time to deliberate and debate its pros and cons?
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