The Consumer View: Too Much Competition

Realtor.com's new Winter Home Buyer Report, here, indicates that Joe Public is worried that there aren't enough homes to buy this winer.

The self-selecting survey ran on the website from Nov. 7-16, and received responses from more than 1,300 respondents. The largest percentage--28%--were looking to relocate.

The report says that a quarter of the respondents are on the market because they were unable to find a new home in the spring or summer.  "While buyers are still experiencing challenges with inventory and approximately one in five buyers plan to put down all cash, there are advantages to looking for a home in the winter," according to a Realtor.com spokeswoman. "Motivated sellers, better prices and less competition between buyers are some of the top reasons winter home buyers are interested in purchasing a home during the colder months of the year." 

According to the survey, here are the biggest challenges when searching for a home during winter:

  • 45% of respondents indicated that there is not enough inventory within their price range;
  • 29% believe that winter weather makes house hunting unpleasant;
  • 7% indicated that there are too many buyers in the market.

The top reasons consumers are in the winter home-buying market:

  • 26% of respondents believe that sellers are more motivated to sell and willing to negotiate;
  • 24% indicated that they think prices will be better;
  • as noted, 24% said that they were unable to buy during spring or summer;
  • 20% think there will be less competition between buyers.

 

 

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