Tips for saving up to buy a home in the next year

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Real Estate

If you want to buy a house in the next year, be prepared to save up and act fast.

The housing market has been red hot for the past 18 months, with buyers sometimes opting to skip many of the traditional strappings of the process, such as appraisals, inspections or even seeing the house in-person before making a deal.

All-cash purchases became the norm during the pandemic, currently comprising 24% of the market, according to the National Association of Realtors. Many buyers lost out on multiple homes before finally getting a bid accepted.

Things aren’t quite as crazy as they once were, but prices remain sky-high, inventory is low and homes are still going fast. Those trends are expected to continue into 2022.

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