Top 6 Home Buyer Concerns

Dated: 08/24/2015

Views: 375

DAILY REAL ESTATE NEWS | MONDAY, AUGUST 24, 2015


Rising home prices tops the list of home buyer concerns this year, a shift from last year when nearly half of buyers said their chief concern was the limited number of homes for-sale, according to a new survey of more than 3,500 buyers released by the real estate brokerage Redfin.


Read moreHome Prices Reach an All-Time High


In this year's survey, nearly 27 percent of respondents cited high or rising home prices as their top concern. Another 17 percent of respondents said they were most concerned about competition from other buyers.


First-time buyers were particularly worried about rising home prices. Thirty-one percent of first-time buyers said that higher home prices were their top concern.


The survey identified the following top six home buyer concerns this year:


  1. Affordability: "Prices are rising too high" – 27%

  2. "There's too much competition from other buyers" – 17%

  3. "There aren't enough homes to choose from" – 14%

  4. "I need to sell a home first" – 8%

  5. "I might not have enough for a down payment" – 6%

  6. "Mortgage rates will go up before I can buy" – 5%


Last year, the top buyer concern identified was inventory, followed by home prices, competition from other buyers, rising mortgage rates, and home-shopping fatigue.

Source: "Home Prices Weigh Heavily on Buyers as Mortgage-Rate Worry Recedes," Redfin Research Center (Aug. 19, 2015)


http://realtormag.realtor.org/daily-news/2015/08/24/top-6-home-buyer-concerns?om_rid=AACfmu&om_mid=_BV22KqB9EzhVhi&om_ntype=RMODaily


Want to Advertise on this Site?

Latest Blog Posts

Why Should One Consider Refinancing Their Mortgage Now

Why Should One Consider Refinancing Their Mortgage Now? Refinancing a mortgage is a golden opportunity to lock in today’s low interest rate for the next 15 or 30 years. While interest rates now

Read More

What You Need To Know About Mortgage Insurance

What You Need to Know About Mortgage Insurance Homeowners insurance and title insurance may not be the only kinds of insurance you need when you buy a home. Many buyers also have to purchase

Read More

Whats Ahead For Mortgage Rates This Week February 12th 2018

What’s Ahead For Mortgage Rates This Week – February 12th, 2018 Jerome “Jay” Powell was sworn in as Chair of the Federal Reserve amidst wild fluctuations in U.S. stock markets. Analysts

Read More

Down Payments 101 Is It Worth It To Put More Than 20 Percent Down

Down Payments 101: Is It Worth It to Put More Than 20 Percent Down? Are you thinking of buying a new home this spring or summer? If so, you’re not alone. Many thousands of individuals and

Read More