Prospective Buyers Frustrated by Bidding Wars, but Continue to Search
Home buyers have not only struggled to contend with double-digit price hikes; they’re also having difficulty purchasing homes because of bidding wars. For only the third time in the history of NAHB’s Housing Trends Report, the top reason buyers are struggling to buy a home is because they are getting outbid (45%).
For reference, in the first quarter of 2018, only 18% of prospective buyers indicated that bidding wars were an issue in their home-buying process. Affordability remains a concern (36%), along with finding a home in the right neighborhood and desired features.
Nearly half of buyers (49%) indicated, though, that if they are unable to find a home in the next few months, they will continue searching for the “right” home in the same location. Almost 30% said they would also be willing to buy a smaller or older home, up from 24% the previous quarter.
Rose Quint, NAHB assistant vice president for survey research, provides more details in this Eye on Housing post.
Latest from NAHBNow
Membership | Advocacy
Jul 02, 2025
From Disaster Relief to Challenging Gas Bans, HBAs are Making a DifferenceNearly two dozen HBAs received Association Excellence Awards for outstanding contributions they made on behalf of their members and communities in 2024.
Advocacy
Jul 01, 2025
One Big Beautiful Bill Act Will Spur Economic GrowthNAHB Chairman Buddy Hughes issued the following statement after the Senate passed the One Big Beautiful Bill Act.
Latest Economic News
Economics
Jul 02, 2025
Two or More Story Home Starts Rebound in 2024Over half of new single-family homes built in 2024 were two or more stories, according the recent release of the Census Bureau’s Survey of Construction (SOC). After declining in 2023, the share of homes started with two or more stories increased again in 2024, continuing the upward trend in place since 2020.
Economics
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.
Economics
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).