With ever more purchase hurdles, first-time buyers hopefuls are pushing limits as to how far they are willing to go to become homeowners. Eating daily ramen noodles, delaying family formation and co-living with strangers from Airbnb are all so yesterday. The latest sacrifice? Living in a haunted house. Seriously …
2017 has been called the most competitive home-buying season ever and the strongest seller's market ever. However, recent reports tell a different story. In San Diego, 20% of all listed homes had a price cut in June. In Seattle, where bidding wars had become the norm in the past three years, market watchers are starting to see 6-figure price drops for median-price homes. In Dallas, 19% of all listed homes had seen their prices cut at least once in June. These are previously unheard off in recent years. Homeowners, who are typically more informed and aware of the latest market conditions in their neighborhood compared to new homebuyers, appear to have taken note according to the latest ValueInsured Modern Homebuyer Survey.
Americans increasingly believe the housing market is overheating and home prices continue to rise, and said they suspect a housing price correction may be imminent, according to the latest Modern Homebuyer Survey from ValueInsured, a provider of down payment protection for homebuyers.
Millennials Worry More Than Others About Home Buying, According to ValueInsured's Quarterly Index
DALLAS, Oct. 13, 2016 /PRNewswire/ -- Despite positive economic indicators like record wage growth and falling unemployment, housing confidence remained flat from June through September, according to the new ValueInsured Housing Confidence Index.
Housing confidence rose a mere 0.2 points from June through September to 68.9 on the hundred-point scale. That figure is up 1.9 points since March. A number of factors are likely to blame for the subdued confidence measure, according to Joe Melendez, CEO of ValueInsured.