The National Association of Home Builders Asks Potential Home Buyers “What’s Holding You Back?”

The National Association of Home Builders (NAHB) has just completed a deeper dive into their Housing Trends Reports (HTR) for the first quarter of 2020. The findings are based on buyers who have been searching for a new home, unsuccessfully, for the past 3- months. They make up ~ 56% of the total number of survey participants. The HTR asked ‘what is holding you back?’ 40% said they could not find a home at a price they can afford. 32% said they could not find a home with the features they wanted, or in a specific neighborhood. Finally, the NAHB asked these HTR survey participants what their plans are regarding their house hunt, if the right home remained unattainable. 48% said they will continue looking for the ‘right’ home in the same preferred location. 34% they will expand their search area. 23% said they would be willing to accept a smaller/older home. While 19% said they might buy a more expensive home.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.