A majority of house hunters say it’s not prices that are keeping them out of the housing market—it’s other buyers. 45% of prospective buyers recently surveyed say they keep getting outbid by other offers, according to a new survey from the National Association of Home Builders. The NAHB says this is only the third time in the survey’s history that the top reason prospective buyers have been unsuccessful has not been due to finding a home at an affordable price.
In the third quarter, 66% of active home buyers say they’ve spent three months or more searching for a home without success.
Source: National Association of Home Builders’ Eye on Housing blog
