Despite The Housing Market Frenzy, 80% Of Buyers In The Past Two Years Don’t Regret Their Purchases

... [+]Over 80% of home buyers don’t regret purchasing their homes in the last two years, despite a tough market and making significant compromises, according to a“The high satisfaction rate amid the hot market makes sense,” says LendingTree senior economist Jacob Channel. “Given the market climate, prospective homeowners were willing to do what it took to buy a home. And with low-interest rates in 2020 and 2021, buyers could make financial compromises to guarantee their purchase.

Appraisals are having a growing impact on mortgage approvals, possibly because of those rising home prices. Among those who bought their home in the past two years, 22% say they had issues getting their mortgage because of appraisal values. That’s compared with the 14% who bought between two and five years ago and the 7% who bought more than five years ago.

Buyers are not only turning a blind eye to the physical appearance of a home, but they are also ignoring the problems that could be hiding behind the walls. Buyers from the past two years are twice as likely to have opted out of an inspection for their new homes than buyers from more than five years ago — 24% versus 12%.

Lol the adjustable rate mortgage holders.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

One Phoenix-area housing market is already back to favoring sellersPhoenix home sales are down, but so is the number of houses listed for sale. The combination is stabilizing the market, according to experts.
Source: azcentral - 🏆 585. / 51 Read more »

Forex Today: US Dollar struggles to recover despite cautious market moodForex Today: US Dollar struggles to recover despite cautious market mood – by eren_fxstreet Currencies Majors Macroeconomics Commodities CryptoCurrencies
Source: FXStreetNews - 🏆 14. / 72 Read more »

North Texas’ 2023 housing market will be ‘mirror image’ of last year, expert predicts - Dallas Business JournalThe U.S. economy is heading into an almost certain recession this year, and for the housing market, the recession is here. But a national recession won’t wallop Dallas-Fort Worth as hard as it does other areas of the country, and that goes for the North Texas housing market as well as the broader economy.
Source: DallasBizNews - 🏆 525. / 51 Read more »

North Texas’ 2023 housing market will be ‘mirror image’ of last year, expert predicts - Dallas Business JournalThe U.S. economy is heading into an almost certain recession this year, and for the housing market, the recession is here. But a national recession won’t wallop Dallas-Fort Worth as hard as it does other areas of the country, and that goes for the North Texas housing market as well as the broader economy.
Source: DallasBizNews - 🏆 525. / 51 Read more »