Affordability Identified as Top Concern for Potential Homebuyers
Are you a prospective homebuyer worried about rising home prices? You’re not alone.
According to a recent survey conducted by the Redfin Research Center, prospective homebuyers identified affordability as their top concern when buying a home.
This result may be driven in part by the fact that home prices increased 5 percent in June from a year ago.
The survey found the top five concerns for homebuyers included:
- Affordability, rising prices (27%)
- Competition (17%)
- Availability (14%)
- Need to sell current home (8%)
- Down payment (6%)
To view the full survey results, visit the website for Redfin’s Real-time Market Sentiment Survey.