Unaffordable Prices Hold Back Prospective Home Buyers
A recent Eye on Housing blog post reveals that 56% of home buyers who are actively engaged in the process of finding a home have spent upwards of three months searching unsuccessfully.
What is holding them back? Forty percent say they can’t find a home at a price they can afford and 32% each say they can’t find a home with the features they want or in a neighborhood they want.
The final question in NAHB's Housing Trends Report asks these veteran house hunters, who have been actively searching for a home for at least three months, about their future plans if the right home remains elusive in the months ahead:
- 48% will continue looking for the “right” home in the same preferred location
- 34% will expand the search area
- 23% is willing to accept a smaller/older home
- 19% might buy a more expensive home
This quarter marks the first time since the creation of the series that the share who will continue looking for the “right” home in the same location falls below the 50% mark, dropping from 60% in the first quarter of 2018 and 56% in the first quarter of 2019, to the latest 48%. Most home buyers, however, remain committed to homeownership — only 16% of those searching for a home for more than three months say they will give up trying until next year or later.
Latest from NAHBNow
Jul 01, 2025
Use NAHB Resources to Protect Workers from Heat and UV ExposureAs NAHB celebrates UV Safety Awareness Month in July, it is important for home builders and general contractors to educate workers about the potential risks associated with UV radiation, and have plans and resources in place to keep them safe on the jobsite.
Jul 01, 2025
Senate Passes Tax Bill With Many Wins for NAHB MembersThe Senate today passed the One Big Beautiful Bill Act (H.R. 1) — sweeping tax and domestic policy legislation that includes several important housing and business provisions that will benefit small businesses, real estate and our members. Most notably, NAHB was able to secure key wins regarding state and local tax deductions for individuals and pass-through businesses.
Latest Economic News
Jul 01, 2025
May Private Residential Construction Spending DipsPrivate residential construction spending fell by 0.5% in May, marking the fifth straight month of decreases. This drop was primarily driven by reduced spending on single-family construction. Compared to a year ago, total spending was down 6.7%, as the housing sector continues to navigate the economic uncertainty stemming from ongoing tariff concerns and elevated mortgage rates.
Jul 01, 2025
Flat Job Openings for ConstructionThe count of open, unfilled positions in the construction industry held steady amid a slowdown for housing, per the May Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS).
Jun 30, 2025
2024 New Single-Family Starts by Census DivisionDespite persistently high mortgage rates, elevated financing costs for builders, and a shortage of buildable lots, single-family starts rebounded in 2024, following two straight years of declines.