The new year ushered in a variety of changes for the United States. With a new administration and a generally healthy economy, 2017 poses unique challenges as well as attractive opportunities for people who are aiming to buy a home. Whether thinking about buying a home for the first time, moving to a new city, or downsizing, it benefits the process to be educated on the current real estate climate.
Here are 7 home buying trends that may affect your plans on purchasing a house in 2017.
1. Credit Standards are Loosening Up
After the mortgage meltdown in 2008, lenders tightened credit standards to a never-been-seen-before point. The credit score needed to buy a home during that period rose significantly, and buyers with even mediocre credit…