Jesse Lapham
Realty Executives Arizona Territory
Spring is nature's way of saying, 'Let's party!' and the real estate market is no exception." - Robin Williams
As the spring season approaches, many potential homebuyers are eager to start their search for the perfect home. However, with the current state of the housing market, it's essential to approach the process with realistic expectations. Though there are more homes for sale now than there were at this time last year, the reality is that there is still a significant undersupply of homes available.
According to the Monthly Housing Market Trends Report from realtor.com, the number of homes for sale is increasing, but it is still 43.2% lower than before the pandemic in 2017 to 2019. This means fewer homes are available to buy on a typical day than a few years ago. As a Tucson realtor, I understand buyers' challenges in this market.
That's why starting your home search is crucial to getting pre-approved for a mortgage. This will give you a better understanding of what you can afford and prevent you from falling in love with a home outside your budget. Once you have a good grasp on your finances, it's time to start thinking about what you need and wants in a home.
Creating a list of must-haves, nice-to-haves, and dream features is a great way to prioritize what's important to you. Must-haves are non-negotiable features you can't live without, while nice-to-haves are desirable but not essential. Dream features are the cherry on top, but they're not necessary to your day-to-day life.
It's important to note that with limited options on the market, buyers willing to consider what's a necessity versus what's a nice-to-have will be more successful in their home search. Once you have your list, discussing it with a real estate agent can help you refine it further and find a home that meets your needs.
In summary, the current housing shortage requires a practical approach to home buying. Prioritizing what you need in a home is a critical first step in the buying process, and being realistic about what's available on the market will help you make a more informed decision. As a Tucson realtor with Realty Executives Arizona Territory, I'm here to help you navigate home-buying and find the perfect home. Let's connect today!
