Buyers Sidelined by Affordability Remain Optimistic

Taking in all they have learned over the last year. RE/MAX has released the results of a new survey on the topics of consumer sentiments and their intentions for homebuying and selling amid the dynamic changes of the housing climate over the last year. 

All-in-all, results revealed that homeownership remains a top priority for consumers, and many have adjusted their previous plans in order to take advantage of ideal conditions or in anticipation of future recession conditions. 

"We've seen historic competition in housing over the last two years. As the market begins to rebalance, homebuyers and sellers remain focused on the goal of homeownership despite the ongoing fluctuations," shares Nick Bailey, President and CEO of RE/MAX, LLC. "The findings of this survey underscore Americans' desire to own a home and highlights the important role real estate agents play in guiding them through the often-complex buying and selling process." 

Going down to the numbers, 68% of respondents plan to buy a home in the next few years. Fifty-three percent of respondents have sped up the timeline of their homebuying plans as a result of declining affordability while about half said they would spend over budget on a bid on a house that did not meet their express criteria just to get into a home. 

The top three requirements respondents indicated wanting when moving were: moving closer to family (46%); better weather (44%); and closer their job (40%). 

This year, 59% of respondents indicated that they plan to get help from an agent to buy a home. 

Bailey adds, "Housing is still a strong investment for Americans, and we expect to see sustained demand next year. However, it will be more important than ever for buyers and sellers to work with an expert to help them navigate the ever-changing market conditions."