Featured News

Report: House hunting takes more time, but buyers refuse to give up

Consumers that are house hunting say it’s taking a significant amount of time to find the perfect property. In fact, some 51 percent of respondents in a recent survey said it’s taking them three months or more to find a home that meets their requirements.

That was the key takeaway from the latest Housing Trends Report conducted by the National Association of Home Builders, published this week.

According to the report, the main reason that buyers are taking so long to find a home is that they can’t find a property within their price range, cited by 53 percent of respondents. Other reasons include not being able to find a home in their desired location (43 percent) and being unable to find a property that has the features they want (39 percent).

The findings were not unexpected given the acute shortage of homes available for sale that has hampered this year’s selling season. However, most of those who’re looking to buy a home will continue with their search, though they may adjust their tactics slightly, the survey found.

Some 60 percent of those respondents who’ve been searching for a home for three months or more say they intend to continue their search until they find the “right” home in their desired located. However, some 43 percent also said they’re willing to expand their search area in response to the housing shortage.

Others have said they will buy a smaller or older home than they first intended, buy a more expensive home than they had planned, or will simply put off their search until next year.

Just 13 percent of respondents said they have decided to give up their home search altogether.

Mike Wheatley

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at mike@realtybiznews.com.

Recent Posts

Frequently Asked Questions about Buyers Agents in Real Estate

Are you wondering what to ask a buyer's agent before hiring them? Buyer agents play…

11 hours ago

MeridianLink Survey Reveals Declining Confidence in Home Affordability

According to a survey by MeridianLink, one out of every three Americans have reduced confidence…

14 hours ago

10 Clever Ways to Expand Your Sphere of Influence on a Limited Budget

Growing your sphere of influence doesn't require a big budget, but it will need a…

1 day ago


Century 21 Real Estate LLC., a global industry leader and the most recognized name in…

1 day ago

Selling Your House In 2023: Tips To Get The Best Deal

The art of selling a house isn't simply about listing and waiting for buyers. It's…

1 day ago

Capital Square Elevates Natalie Stephens to Southwest Regional VP

Stephens will now support sales and marketing efforts for broker-dealers, registered representatives, and investment advisors…

2 days ago