More Homebuyers are Experiencing Challenges Making their Purchases
By Stephanie Mojica
A growing number of homebuyers are exhausted with the nuances of acquiring a property, leading some to continue renting, according to REALTOR.com.
Jenna and Gil Watts in Savannah, Ga. have been looking for a home since October 2020, but have lost out to buyers who can pay cash for a property. Several offers of theirs have been rejected because people from the Northeast and the West Coast had recently sold their homes and made all-cash offers, the couple told REALTOR.com.
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When the Wattses relocated to Savannah, they only expected to rent for about a year. They have seen over 50 homes and are still not homeowners. Gil Watts was born and raised in Savannah, and both husband and wife are exhausted and disappointed.
“When I see new listings, I don’t get excited anymore,” Jenna Watts said. “I feel burned out. Sometimes I feel numb to the whole process because it’s been so repetitive, and it just feels like things are stagnant and there’s no light at the end of the tunnel.”
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Only 17% of respondents to a February survey from Fannie Mae said they thought it was a good time to buy, while 59% said they thought it was a good time to sell.
Danielle Hale, chief economist for REALTOR.com, said this problem is common and is affecting buyers and sellers. The current situation has created a “nobody’s market,” Hale noted.
Stephanie Mojica
Stephanie Mojica, writer of How One Writer Shifted From Settling for $12 an Hour to Prospering at Over $90 an Hour and shorter books such as Quick Answers to Frequently Asked Credit Questions, is an award-winning journalist with publications such as USA Today, The Philadelphia Inquirer, San Francisco Chronicle, and The Virginian-Pilot, among many others. She helps executive coaches, business consultants, business owners, attorneys, and other decision makers generate more money online and become the go-to expert in their field by guiding them step by step through the process of writing and publishing a book.
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