The National Association of Exclusive Buyer Agents recently
conducted a survey of its membership to determine the top issues facing
today’s home buyers. Exclusive buyer agents across the country were
simply asked, “What is the number one issue facing home buyers in your
market today?” Two-thirds of the respondents responded with lack of
inventory or low inventory.
Regardless of where the agent was located in the U.S., most answers
were similar. Tom Coler, a NAEBA member in Florida, responded, “Finding a
house they can afford in a market with very low inventory.” Across the
country in Las Vegas, NV, NAEBA member Adele Hrovat answered with two
words, “Low inventory.” Even the Midwest is facing the issue as NAEBA
member Claire Bastien in Minnesota reports, “Good quality inventory is
low in some areas of the Twin Cities leading to multiple offers over
asking price.”
The second most reported issue was affordability of available homes.
Twenty percent of the respondents listed affordability or pricing as the
top issue in their market. This was especially reported as an issue for
first-time home buyers. NAEBA member Ken Reid reports this about the
Phoenix market, “(There is a lack of) affordability for the first-time
home buyer. The rise in prices have cut a lot of buyers out of the entry
level market. Unfortunately, rental prices are also on the rise,
thereby reducing housing options for the young and/or low income
Americans.”
“This survey shows that we have seen a shift to a seller’s market in
most of the country,” states NAEBA President Chris Whitehead. “To
navigate these issues, it is more important than ever that buyers have
an Exclusive Buyer Agent on their side throughout their home purchase.”