Prices, Not Inventory, Top Homebuyers Concerns
What’s the biggest concern among current homebuyers? Price. According to a recent study of more than 3,500 buyers, 27 percent cited rising home prices as their chief concern.
According to Daily Real Estate News, 17 percent of the respondents were concerned about competition from other buyers, while 14 percent noted low inventory. 31 percent of first time homebuyers were worried about rising home prices.
Additional causes for concern included the burden of selling a current home first (8 percent); money for a down payment (6 percent); and the possibility of rising mortgage interest rates. Last year’s top concern, which was cited by nearly half the respondents, was the limited number of homes on the market.