first-time homebuyers and likely not the first story you’ve heard, especially lately: tight inventory, multiple offers on rundown properties and houses selling for well over the asking price — sometimes by hundreds of thousands of dollars.Last year, the housing market sizzled across the nation, with annual existing-home sales hitting their highest mark since 2006, according to the National Association of Realtors (NAR)."After an initial lull in 2020, the market has been red hot and getting hotter," said Ron Melendez, a senior agent in Los Angeles with Compass’s The Stephanie Younger Group.So, how can first-time homebuyers navigate the process without becoming burned out, deflated or giving up altogether?

If you’re a prospective first-time homebuyer hoping (or praying) home prices will decline in 2022, most experts agree: don’t count on it."If people are waiting for a price to decline, well, it’s not going to happen," Lawrence Yun, chief economist of the NAR, told FOX Television Stations.

BRAMPTON, ON - MARCH 10: Houses continue to draw a premium price, as this recent SOLD sign shows. Inventory continues to be low which helps to drive up the prices for those looking to buy.

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Pakistan's prime minister Imran Khan ousted in no-confidence vote

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First-time homebuyer? Real estate experts offer advice in crazy market

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