Buyers Say It’s Harder to Find the Right Home

Filed in Economics, Sales & Marketing by on May 2, 2018 0 Comments

Prospective home buyers say it is getting more difficult to find the right home, according to a quarterly survey based on national polls conducted by Morning Consult.

The poll focused on adults planning to buy a home within the next year.

When respondents were asked in the first quarter of 2018 if they thought finding the right home would get easier, harder or stay about the same in the months ahead, only 15% said it would get easier, down from the 27% who thought so in the fourth quarter of 2017. Conversely, 73% said they expect the house search to get harder or stay about the same, up from 65% in the last quarter of 2017.

The share of prospective home buyers who expect that finding the right home will become easier later in 2018 is less than 20% across all generations, with seniors the least optimistic at only 3%.

Do You Expect House Search to Get Easier/Harder in the Months Ahead?
(Percent of Prospective Home Buyers)

 

Share Expecting House Search to Get Easier by Generation
(Percent of Prospective Home Buyers)

As NAHB economist Rose Quint explains in a recent Eye on Housing blog post, the NAHB Economics team has used this polling data to create a new research product called the Housing Trends Report to track prospective home buyers’ perceptions about the availability and affordability of homes for sale in their markets.

Read the Eye on Housing blog post for more details.

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