The quarterly Housing Trends Survey
conducted by the National Association of Homebuilders found that 69 percent of those
actively seeking to buy a home have spent as much as three months searching
without success. Rose Quint, writing in NAHB’s Eye on Housing blog, says that
for the first time in the survey’s history, the number one reason for the
protracted timeframe wasn’t because the potential buyers couldn’t find an
affordably priced home, although that was the reason cited by a third of them. Forty
percent, however, said they continue to be outbid by other buyers.