This Is Why Being a Homebuyer Really Sucks Right Now

home for sale sign in flower bedIt's not fun being a homebuyer these days. We've heard about rampant bidding wars all over the place and rapidly rising home prices -- which means homebuyers are having difficulty snagging the homes they want, and the ones they do get aren't as cheap as they might have been a few years ago. (Of course, all of that sounds pretty good for the people selling!)

Just how tough is the market out there for buyers? According to a new survey by real estate firm Century 21, pretty tough. Get a load of these numbers:

• 33 percent of people currently looking for a home have been house hunting for more than a year.
• 67 percent have been on the hunt for up to a year.
• 42 percent of house hunters have put an offer on a home in the past six months -- but only 11 percent of those have had their offers accepted.
• That old adage "location, location, location" is becoming less important: 80 percent of homebuyers say they would compromise on a location-related benefit such as commute, proximity to friends and accessibility to restaurants and entertainment in order to snag a home.

Here's a handy infographic from Century 21 breaking down the shifting mindset of homebuyers in a market overwhelmingly favoring sellers:



More about homebuyers:
More Young Couples Say 'I Do' to Buying a Home Before Marriage
Renters Looking to Own Are Ready to Buy, Survey Says
5 Key Steps to Your 1st Real Estate Purchase

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Home Price Index Best Since 2006

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bshousingmarket

yes, the housing market sucks, because greedy banks and realtors have inflated the market due to greed, and the filthy inner cities are driving people into the suburbs like roaches

June 28 2014 at 5:17 PM Report abuse rate up rate down Reply