{"id":8273,"date":"2018-02-14T00:00:00","date_gmt":"2018-02-14T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/buyers-finding-love-takes-more-time\/"},"modified":"2018-02-14T00:00:00","modified_gmt":"2018-02-14T00:00:00","slug":"buyers-finding-love-takes-more-time","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/buyers-finding-love-takes-more-time\/","title":{"rendered":"Buyers Finding Love Takes More Time"},"content":{"rendered":"

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Your buyer clients may need to brace for longer house hunts. Inventories are at record lows, and that means finding the perfect house match is becoming more difficult.<\/p>\n

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NAR’s Latest Housing<\/a> Report: More Markets Hitting Record-High Home Prices<\/p>\n<\/blockquote>\n

Two-thirds of home buyers said they searched for more than three months before going under contract on a home, according to a new survey by the National Association of Home Builders. Buyers also complain that homes are getting too pricey. Forty-two percent of respondents\u00a0said that the homes they wanted were too expensive for their budgets, which further delayed their search. Twenty-seven percent said they were being\u00a0outbid by others.<\/p>\n

\u201cIt\u2019s the inventory problem that we\u2019re having out there that is causing these long delays in pulling the trigger,\u201d Rose Quint, the NAHB\u2019s assistant vice president for survey research, told CNBC. \u201cIt\u2019s lack of affordability, although the other problems are serious as well.\u201d<\/p>\n

The house hunt can prove frustrating for buyers. About a third of survey respondents said they couldn\u2019t find a home with the features they wanted or in a neighborhood they desired.<\/p>\n

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Home prices increased\u00a0in 92 percent of the nation\u2019s housing markets at the end of last year, the National Association of REALTORS\u00ae reported this week. Twenty-six markets\u2014or 15 percent\u2014saw double-digit increases in prices.<\/p>\n

“These consistent, multiyear price gains have certainly been great news for homeowners, and especially for those who were at one time in a negative equity situation,” says Lawrence Yun, NAR\u2019s chief economist. “However, the shortage of new homes being built over the past decade is really burdening local markets and making home buying less affordable.”<\/p>\n

Source: \u201cMost Buyers Actively Trying to Get a Home Have Been Searching for 3 Months-Plus,\u201d National Association of Home Builders\u2019 Eye on Housing blog (Feb. 13, 2018) and \u201cShopping for a Home? It Will Take a Lot Longer Than You Think Because Home Prices Are Overheating,\u201d CNBC (Feb. 13, 2018)<\/em><\/p>\n<\/div>\n<\/div>\n

Realtors <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Your buyer clients may need to brace for longer house hunts. Inventories are at record lows, … Buyers Finding Love Takes More Time<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":8274,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[1403,12908,543,627,127,617,489,344,3781,258,204,1007,41,818,479],"class_list":["post-8273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-home","tag-home-buying-guide","tag-homeowners","tag-homes","tag-house","tag-houses","tag-housing","tag-housing-markets","tag-new-home","tag-new-homes","tag-owners","tag-property","tag-real","tag-realtor"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3264,"url":"https:\/\/amazingproperty.com.ng\/blog\/are-your-buyers-getting-frustrated-yet\/","url_meta":{"origin":8273,"position":0},"title":"Are Your Buyers Getting Frustrated Yet?","author":"Amazing Property","date":"April 11, 2017","format":false,"excerpt":"Consumers are increasingly on the house hunt this spring. Though they're enjoying solid employment and paycheck gains and in a rush to beat rising mortgage rates, they\u2019re also struggling to find a home to buy in many housing markets. Read more: New Reality? Buyers Face Fewer Choices Indeed, the supply\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5078,"url":"https:\/\/amazingproperty.com.ng\/blog\/new-home-prices-hit-record-high\/","url_meta":{"origin":8273,"position":1},"title":"New-Home Prices Hit Record High","author":"Amazing Property","date":"June 26, 2017","format":false,"excerpt":"[ad_1] The median price for a new single-family home reached a record high in May of $345,800, the Commerce Department reports. Buyers will be paying a huge premium for new construction, as new-home prices are now 16.8 percent higher than they were a year ago. So far, however, the higher\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/regional_nhs_may17.png?fit=620%2C255&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/regional_nhs_may17.png?fit=620%2C255&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/regional_nhs_may17.png?fit=620%2C255&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5460,"url":"https:\/\/amazingproperty.com.ng\/blog\/home-sales-dip-as-buyers-get-tripped-up\/","url_meta":{"origin":8273,"position":2},"title":"Home Sales Dip as Buyers Get \u2018Tripped Up\u2019","author":"Amazing Property","date":"July 24, 2017","format":false,"excerpt":"Low inventory slowed down home sales last month, as buyers faced fewer options and record-high real estate prices, the National Association of REALTORS\u00ae reported Monday. Regional Snapshot Here\u2019s a closer look at how existing-home sales fared across the country in June: Northeast: Dropped 2.6 percent to an annual rate of\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4804,"url":"https:\/\/amazingproperty.com.ng\/blog\/housings-hottest-markets-may-2017\/","url_meta":{"origin":8273,"position":3},"title":"Housing\u2019s Hottest Markets: May 2017","author":"Amazing Property","date":"June 1, 2017","format":false,"excerpt":"[ad_1] Amid scarce supplies and high buyer demand, homes are selling fast across the country. Home prices are rising as well: The nationwide median home list price rose above $250,000 for the first time, realtor.com\u00ae reports. The median list price is 10 percent higher than a year ago. 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As home listings are scarcer and buyer demand remains high, home shoppers are finding a lot more competition this spring, particularly in hot markets like the San Francisco Bay area, Denver, and Boston. Read more: Up Your\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2752,"url":"https:\/\/amazingproperty.com.ng\/blog\/marchs-hot-list-the-20-top-performers\/","url_meta":{"origin":8273,"position":5},"title":"March's Hot List: The 20 Top Performers","author":"Amazing Property","date":"March 30, 2017","format":false,"excerpt":"Spring sprang early in the housing market this year. The buying season\u2019s annual start came about a month earlier than usual. 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