Increased competition for homes will probably continue to weigh on the market next year, experts said. As home prices rise, buying now would probably save more money rather than waiting.

“Where rates are and where housing prices are, it’s a great time to buy,” said Mat Ishbia, president and chief executive at United Wholesale Mortgage.

Prospective homeowners should do their research and make sure they’re not purchasing in an overheated market, economists cautioned.

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