Page 30 - BB_JuLY_2019

A Top Barrier to Homeownership

May Be Easing

A recent Eye on Housing blog post revealed
that 53% of buyers actively searching for a
home to buy in the first quarter of 2019 have
been looking unsuccessfully for at least three
months.

Why is it taking these buyers so long to pull
the trigger?
The most important reason is they can’t find a
home at a price they can afford (46%), followed
by not finding a home in the neighborhood of
their choice (40%) and not being able to find a
home with the features they want (38%).

These were the findings from the most recent
Housing Trends Report (HTR), a research
product created by the NAHB Economics team
If the right home remains elusive for these buyers in the
with the goal of measuring prospective home
months ahead, these house hunters reported they will do
buyers’ perceptions about the availability and
the following:
affordability of homes for sale in their markets.
> 56% will continue looking for the ‘right’ home in the
The HTR is produced quarterly to track changes
same preferred location,
in buyers’ perceptions over time.
> 41% will expand their search area,
Comparing these findings to similar data
from a year earlier shows a five-point drop > 30% is willing to accept a smaller/older home, and
in the top reason respondents cited as their > 21% might buy a more expensive home.
biggest barrier to homeownership — finding a Giving up on homeownership is the least likely outcome,
home at a price they can afford. Future data as only 14% will stop trying to find a home.
will determine if this is an ongoing trend. NAHB JUNE 2019

30 JULY 2019 | GREATER SAN ANTONIO BUILDERS ASSOCIATION