Home Buyers Still Hopeful, Would-Be Sellers Less So

The U.S. economy — not to mention the pandemic-era world — has seen many ups and downs over the past several years, but the American dream of homeownership is steadfast: 83% of Americans say buying a home is a priority, and this rate has remained steady in our annual Home Buyer Report over the past four years.

One in 10, or nearly 26 million, Americans say they plan to purchase a home in the next 12 months, according to a new NerdWallet survey conducted online Dec. 7-9, 2021, by The Harris Poll. As with previous years, this hopeful sentiment is bound to end in disappointment for many, given that roughly 5 million to 6 million homes were sold in each of the past five years, on average, according to data from the National Association of Realtors.

This doesn’t mean people are completely unaware of the challenges they may face: 85% of Americans surveyed say homes currently for sale in the U.S. are overpriced. And the number of homes on the market is about half of what it was in…

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This article was written by Elizabeth Renter and originally published on www.nerdwallet.com