As many states push to reopen, the housing market is beginning to spring back to life. With near-record low mortgage rates, many home buyers are searching for their perfect home. Lombardo Homes recently surveyed 1,800 homeowners to learn more about what home buyers are want in their dream home. In their analysis, they found that the average home search spans 19 properties over the course of four months. 51% of home buyers use an agent or realtor to buy a home. 41% of buyers say they would go over budget by an average of $25,000 to find the perfect home. 1,800 homeowners were asked what was most important to them when buying a home. Top responses: 1. Price (80%) 2. Location (75%) 3. Neighborhood (64%) 4. Size of home (60%) 5. Layout (41%). 1 in 3 home buyers have backed out of purchasing a home. Top reasons: 1. Finding something wrong during inspection (34%) 2. Changed their mind about the house itself (29%) 3. Their budget changed (18%).
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