Disconnect Continues Between Homebuyer Budgets and List Prices

The majority of homebuyers are looking for homes priced 20% below the median list price, according to the National Association of Realtors.

The NAR’s April Realtor Confidence Index Survey found that 48% of homebuyers were looking for a home priced $250,000 or below, while only 40% of the homes that sellers’ agents listed were priced at $250,000 or below. The median list price was for homes was $307,200.

There continues to be a mismatch between demand for homes and the supply. Buyer’s agents reported on average taking nearly five client tours in April 2019, while seller’s agents on average reported listing three homes during the month. On average, a property that was sold in April 2019 had nearly three offers.

Read more