High Costs Dramatically Lengthen the Quest for a Home

December 2, 2019
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Homebuyers want the triple threat: the right price for the right home in the right location. For many potential homebuyers, it’s the high price tags of houses that are preventing them from taking the leap for months. But the quest is not hopeless: Over half of those struggling to find a home plan to continue the search until they find a match. 

As revealed in a previous post, 58% of buyers actively searching for a home to buy in the third quarter of 2019 have been looking – unsuccessfully – for at least three months. Why is it taking these buyers that long to pull the trigger?  The most important reason is they can’t find a home at a price they can afford (45%), followed by not being able to find a home with the features they want (32%), and not finding a home in the neighborhood of their choice (30%).

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