Homebuyers continue to try again when it comes to the house hunt.
The Lawhead Team would like to share the latest One Cool Thing about trying to find the perfect home – “Try and try again”.
55% of prospective home buyers who were actively searching for a property to purchase in Q2 say their house hunts were unfruitful for three months or loner. These are the top reasons for their failed home searches:
- 50% were unable to find a home at the price they can afford
- 43% were not able to find a home in their neighborhood of choice
- 40% couldn’t find a home with features they wanted
The good news is the majority of prospective buyers who report unsuccessful home search say they plan to keep looking.
- 62% will continue looking for the right home in their preferred location
- 36% are expanding their search area
- 21% will accept a smaller or older home
- 16% might consider buying a more expensive home
Source for Try and Try Again: National Association of Home Builders