The terms “prequalification” and “preapproval” are often confused, and even misused interchangeably, when really in dealing with mortgages, the two are like comparing apples to
The Santa Clara market tightened up for the last month of the year, as home inventory dropped, which is typical for the holiday season. There were very little new listings and many homes that had been sitting on the market were finally sold and will be closing in January. Moving forward to expect home inventory to expand. Generally buying activity is pretty hot in the beginning months of the year, as inventory is ramping up.