The next moves for unsuccessful buyers
Failed home searches are not uncommon. In fact‚ 55% of buyers in the second quarter of this year said their house hunts lasted three months or longer.1 So‚ what was the next move for these buyers?
- Of those surveyed‚ 62% stayed the course and continued to search for a home in their preferred location.
- Thirty-six percent expanded their search area; 21% settled for an older or smaller home.
- Sixteen percent postponed their search until next year or later.
As the #1 mortgage company in Greater Lexington for 17 consecutive years‚ Capstone Mortgage is here to provide guidance and support.
1Rose Quint‚ “Unaffordable prices hold back prospective homebuyers‚” Eye on Housing Blog‚ last updated September 5‚ 2019.