Top 6 Home Buyer Concerns

By
Real Estate Agent with Watermark Realty 995684830

Top 6 Home Buyer Concerns

 

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. 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.

Comments (4)

Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Yes to the ordinary obstacles that make for motivation to overcome. Worth it!

Aug 27, 2015 11:50 PM
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

I can see where you have done your homework.  All terrific and valid points for buyers and sellers alike.

Aug 28, 2015 12:05 AM
David Barr
Berkshire Hathaway HomeServices Florida Realty - Sarasota, FL

Redfin data?  No thanks.

Aug 28, 2015 01:24 AM
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

Tracie,

 

Numbers 1 – 3 have been a big factor here in Colorado. There are older style houses from the 60’s and 70’s that buyers don’t want. New construction costs are sky high.

Aug 28, 2015 11:09 AM