Tag Archives: home buyer

The number of potential homebuyers saw another decline, and a new report shows how closely age is related to making a home purchase.

According to a new survey, homeowners find housing market conditions ideal for selling but are hesitating due to a fear of not being able to purchase a new home.

In a new survey, more homebuyers cited that their reasoning for buying a home was personal choice—build equity, move to a good school district, have a larger yard or living area, secure a vacation home—than out of necessity. Twenty-six percent said sudden or unexpected changes to their life, such as pregnancy, marriage, divorce, a death in the family, financial hardship, or health reasons necessitated their purchasing of a phone, as opposed to the former 31 percent. Unsurprisingly, those who wanted to buy were more likely to secure a FHA loan to pay for their home, while those who felt like they needed to buy took a 30-year mortgage or paid cash.

The number of people buying homes in the U.S. has increased 5 percent within the last two years. Still, the survey found 2 in 5 American consumers feel there is a lack of inventory in their price range and 44 percent said they are not familiar with home affordability programs.