Top three homebuyer deal-killers

Recent surveys have shown that more Americans have a
thirst for buying real estate, with home affordability at
record highs and mortgage rates at record lows.

In fact, real estate buyer agents report a 59 percent
increase in buyer inquiries this year compared to last
year, according to a recent survey conducted by the Real
Estate Buyer’s Agent Council.

So what’s preventing some buyers from making it all the
way to the closing table?

REBAC surveyed its buyer agent members to determine the
top issues preventing homebuyers in their local markets
from completing a home purchase. The top three obstacles
identified in its 2012 survey are:

1. Economic insecurity

2. Difficulties in obtaining financing

3. Problems selling current home

The number of homebuyers citing difficulties obtaining
financing has fallen markedly in the last few years. In
2011, 65 percent of homebuyers cited this as a big hurdle
to purchasing, and 61 percent cited it in 2010.

This year, that number has dropped to 49 percent, as
economic insecurity overtakes it in having the biggest
effect on stalling home sales, according to the survey.

In 2011, the top three issues cited by buyers were
difficulties obtaining financing, problems selling a
current home, and holding out for lower prices, according
to the survey.