Why would some house hunters decide to put their home search on hold?
The five most common reasons for putting their home search on hold:
- Uncertainty with COVID-19
- The market is intimidating
- Not enough homes on the market
- I haven’t decided where I want to live after I sell my home
- I’ve already lost out on a few homes because of the competitive market
- Pocket Listings are bad for customers
By age group, Generation X also appears to be the most concerned about finding major problems with a home they purchase and having to move quickly.
What are some major problems can be found with a home?
Inspection. Inspection. Inspection.
The housing market has been very competitive over the past year as home buyers scramble for a limited number of homes on the market. Home shoppers’ top concerns are:
- Finding a home I love that’s within my budget
- Paying too much for my home
- Finding a home in a neighborhood where I want to live
- Interest rates increasing
- Discovering major concerns after I’ve moved in
According to the Opendoor's survey, nearly 4 in 10 Americans who are looking to purchase a home in the next year say they’ve halted their search. While some buyers may want to stop searching due to some of concerns listed above, others are finding a tiny opening in the market lately.
Los Angeles, CA
Homes Santa Monica 90403 and 90402
Sat Sep 25 2021
This week the median list price for Los Angeles, CA is $1,350,000 with the market action index hovering around 50. This is about the same as last month's market action index of 50. Inventory has decreased to 1,149.
