Between COVID restrictions, low inventory, and high competition, there’s no denying that the real estate market has been tough for buyers over the past year. But despite those challenges, the majority of buyers are happy with their decision to buy.
According to a recent survey from realtor.com, 71 percent of buyers who purchased their home over the past year said buying was a good decision—and a full 75 percent said their new home is the right fit for their family.
Not only are buyers happy with their home, but many were also satisfied with the process. For example, nearly half of buyers surveyed (48 percent) said they didn’t feel pressured or rushed while buying their home.
“Given the challenges of the year, it is surprising how many recent homeowners are happy with their purchase,” realtor.com Senior Economist George Ratiu, said in the article outlining the survey results. “We’ve had a very competitive housing market this year, characterized by very few homes for sale, steeply rising prices, and bidding wars. So it’s good to hear that the majority of buyers feel good about their decision to buy a home this year.”
The Takeaway:
So, what does this mean for you? Despite the challenges of today’s market, most buyers are overall satisfied with their decision to buy a home—so if you’ve been thinking about buying a home of your own, now is a great time to make a move.