Home Buyers Frustrated by More Competitive Bidding
Posted To: MND NewsWireThe quarterly Housing Trends Survey conducted by the National Association of Homebuilders found that 69 percent of those actively seeking to buy a home have spent as much as three months searching without success. Rose Quint, writing in NAHB’s Eye on Housing blog, says that for the first time in the survey’s history, the number one reason for the protracted timeframe wasn’t because the potential buyers couldn’t find an affordably priced home, although that was the reason cited by a third of them. Forty percent, however, said they continue to be outbid by other buyers. Quint said the responses in the Q4 2020 survey is a reversal of the those in a year earlier. In the fourth quarter of 2019, 44 percent said it was unaffordable prices holding back their purchase, only 19 percent cited better offers…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
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