Buyers Couldn't Find The Right Home

55% of Buyers Couldn’t Find The Right Home. 

 Is This You?

In 2Q 2019 a survey by the NAHB found 55% of potential buyers failed to find a home.

The survey respondents cite the following for their failed home searches:

• An inability to find one at a price they could afford (50%)
• Couldn’t find one in their neighborhood of choice (43%),
• Couldn’t not find one with the features they wanted. (40%)

The share of buyers who consider high prices their biggest barrier has increased 5% from a year ago.

According to the NAHB survey:

• 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.
• Only 16% of respondents say they’re putting off their house hunt until next year or later and will likely pay more.

Source: “Unaffordable Prices Hold Back Prospective Home Buyers,” National Association of Home Builders’ Eye on Housing blog (Sept. 5, 2019)