A recent poll found that buyers’ perceptions about the availability of homes for-sale in the near future are not particularly optimistic: 40% say that finding the right home will become harder in the months ahead, 25% say it won’t change, and only 27% think it will get easier. Put differently, 65% of buyers don’t expect the home search to get any easier in 2018.
Further highlighting buyers’ poor perceptions of housing availability, the majority don’t see the number of homes on the market (compared to three monhts earllier) moving in the right direction: 35% see fewer homes (like the one they are looking for with desired features and price point), 23% see no change, and only 34% see more homes. In all then, 58% don’t see the number of homes with the right features and price range increasing on the market.
Nonetheless, being keenly aware of the housing inventory issues currently constraining the market is no deterrence to these buyers – they are determined to continue the search to buy a home in the next 12 months.
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