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
Digital Media | Membership
Jun 30, 2025
Top Builders List Spotlights NAHB MembersIn its latest May/June 2025 issue, Pro Builder unveiled its Top 200 (formerly Housing Giants) report, which ranks the top U.S. home builders by revenue, and looks at the top trends affecting the business of home building.
Legal
Jun 27, 2025
Supreme Court Limits Nationwide InjunctionsIn a case that could have far-reaching consequences for NAHB members, the Supreme Court today issued a 6-3 ruling that would limit the use of nationwide universal injunctions. A universal injunction stops the defendant from taking an action against anyone, anywhere.
Latest Economic News
Economics
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.
Economics
Jun 27, 2025
2025 First Quarter State-Level GDP DataReal gross domestic product (GDP) increased in ten states in the first quarter of 2025 compared to the last quarter of 2024, according to the U.S. Bureau of Economic Analysis (BEA).
Economics
Jun 27, 2025
State and Local Property Tax Revenue Grows in the First QuarterIn the first quarter of 2025, state and local governments experienced an increase in property tax revenue growth. On a seasonally adjusted basis, state and local government property tax revenue grew 1.1% over the quarter, according to the Census Bureau’s quarterly summary of state and local tax revenue.