Currently Reading

Top Reasons Why Buyers Are Braving the Tough Market

Market Data + Trends

Top Reasons Why Buyers Are Braving the Tough Market

March 26, 2021
Family holding up house key
Photo: Prostock-studio

Buyers are facing a market with tough competition, low inventory, and rising home prices, but they say it’s all worth it to achieve the American dream. A recent survey asked more than 800 prospective buyers about their home searching experience, and nearly 43% of respondents have been on the hunt for more than a year. Buyers are sticking it out in order to fulfill their strong desire to own a home, invest in a property, get more space, and to build equity, the survey found. 

Home buyers who are persevering in this challenging climate have made the location of their future homes their top consideration. The aspiring homeowners also value being somewhere relatively quiet with a big backyard and a garage.

“The pandemic likely only reinforced the value of homeownership,” says Ratiu. “It’s provided a haven that most of us were able to work, take care of the kids in.”

However, the challenges to reaching those goals in this tough market are daunting. The biggest obstacle these younger home buyers are facing is not having a large enough down payment, as many grapple with paying off student loans or finding a home within their budget. That’s particularly challenging as median home list prices jumped 14% in February, to hit $353,000, according to data. In addition, mortgage interest rates, which had fallen to record lows, are rising again.

Read More

Related Stories

Coronavirus Resources and Information

Multigenerational Home Demand Jumps Due to Pandemic

The multigenerational home designs of the Lake Club section of the Lakewood Ranch community in Florida meet the growing desire for generations…

Market Data + Trends

Home Prices Increase in 89% of Markets During Quarter One

Home prices continue to rise across the country with 89% of markets posting price gains and the national median home price hitting $319,200.…


Results Are In: Homebuyers See Exercise Rooms as Highly Desirable

An increasing number of homebuyers desire a workout room, according to a recent survey from the National Association of Home Builders. The What…


More in Category


Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.