In today’s high-priced, high-interest-rate housing market, buying a new home while selling the current one is both a blessing and a curse. Home sellers benefit from record-high prices and increased home equity, but steep mortgage interest rates have more than doubled in the past year, making housing costs around 70% higher than before. Many homeowners with favorable mortgage rates are hesitant to give them up, leading to a reduced number of sellers. The decision of whether to buy or sell first involves considering advantages and risks, such as avoiding temporary living arrangements but facing financial risks if the old property doesn’t sell quickly. Market conditions, including high mortgage rates and lingering times for home sales, further influence the process.
Full Article: https://www.realtor.com/advice/sell/how-to-buy-and-sell-a-home-at-the-same-time-in-todays-haywire-high-interest-rate-housing-market/