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Buying a House in 2022: What to Expect
Last year was challenging for potential homebuyers. While home prices rose nationwide, buyers scrambled for properties and engaged in bidding wars, resulting in homes selling exponentially higher than the listing price.
Effects of Inflation on Housing Prices
In most economies, inflation is a common phenomenon and is often considered an early sign of the end of an economic cycle. A sudden spike in inflation can impact everything from the price of a gallon of gas to a jumbo pack of toilet paper. However, if you’re in the home buying market, the impact is even more significant.