Survey: Tight Inventory Tops Winter Home Buyers’ Challenges
Realtor.com | November 20, 2013 | link
More than 1,300 people looking to buy a home during the winter months told realtor.com that lingering conditions from the past home-buying season, including inventory challenges and all-cash offers, continue to set the tone for them as they enter the winter season.
“This summer and spring home-buying season was particularly challenging for buyers, especially first-time home buyers trying to compete with all-cash offers and bidding wars because of reduced inventory,” said Alison Schwartz, vice president of corporate communications at realtor.com. “In fact, a quarter of the winter home buyers revealed they are in the market now because they were unable to find a home during this last home-buying season.”
While the majority of winter home buyers describe themselves as relocation buyers, downsizers are also a large portion of those looking to buy a house in the next four months, according to the report.
There are advantages to looking for a home in the winter, Schwartz said.
“Motivated sellers, better prices and less competition between buyers are some of the top reasons winter home buyers are interested in purchasing a home during the colder months of the year,” she said.