Mortgage rates most common deterrent cited by buyer agents Inventory and competing offers also present challenges
Buyer Agents Who Had Another Client Pause/Stop Home Search
Why Buyer(s) Paused/Stopped Home Search Over the Past Six Months Multiple reasons could be named
62.5%
Mortgage rates too high High prices/no home in their price range Unsuccessful offers/competing with cash Could not find the right home Need to save more for a down payment Uncertain about the market Decided renting was a better option Waiting to sell current home Family or health issue Other financial issues Timing (e.g., holidays, school, etc.) Other
61.2%
No 29.5%
55.9%
47.4%
Yes 70.5%
26.0% 25.0%
15.8%
11.8% 10.5% 9.2%
7.2%
3.3%
Bright MLS Subscriber Survey, April 4-11, 2024 n = 431
25
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