The US economy is in a strange place–and that means the housing market is too. As rising interest rates do their job to tamp down demand, fears of a coming recession are on the rise. Prospective buyers may be wondering what it all means for their dreams of owning a home.

If you’re following along with the news today, you’ve likely heard about rising inflation. You’re also likely feeling the impact in your day-to-day life as prices go up for gas, groceries, and more. These rising consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you have planned to ensure they’re still worthwhile.

Homebuyers in our local market are faced with challenges today; low inventory, multiple bid offers, rising mortgage rates, etc., which can make it hard to know if now is a good time to buy.

Deciding whether to rent or buy can be a difficult decision, but with the right analysis, you can determine which is best for you. Knowing whether it’s the right time to rent or buy depends on your buying power, what you’re looking for in a home, your local market conditions, your plans for you and your household, and the responsibilities you’re prepared to take on at your residence.

If you’re in the market to buy a home this season, stick with it. Homebuyers face challenges in any market, and today’s is no exception. But if you persevere, your decision to purchase a home will be worth the effort in the end. In fact, a recent survey from Bankrate shows homeownership is so powerful that:

If you’re trying to buy a home, one of the biggest hurdles you’ll probably need to clear is financing your purchase. Fortunately, homebuyers have numerous options, including traditional fixed-rate loans and less common adjustable-rate mortgage products.

Yes, prices are up and mortgage rates are rising, but history suggests that waiting probably won't be the right choice.

Funding your home purchase or sale can feel like a daunting task, but it doesn’t have to be. Your tax refund can help you reach your goals.

If you’re in the market for a home, take note: Some experts MarketWatch Picks spoke to say this year may mean less competition.

Contingencies help to spell out the specifics of a real estate transaction by dictating what must happen so the contract becomes legally binding. If certain conditions aren’t met, the applicable contingency gives the buyer and the seller the right to back out of the contract per their agreed-upon terms. When selling your home, a buyer may make their offer with contingencies attached. Here are some common contingencies you might see in a buyer’s offer and what they mean for you.