Cash-Stretched New Homebuyers Are Drawing a Line at Fixer-Uppers

May 20, 2024
Prashant Gopal - Bloomberg

For homebuyers trying to crack into a tough US housing market, it would seem like relief is here: New listings are on the rise.

The quality of properties, however, is on the decline. Sometimes shockingly so.

Of about 1,400 resale agents nationwide surveyed by John Burns Research & Consulting, 99% said they’ve seen homes for sale that need repairs or updates, with two-thirds of agents saying listings showed deficiencies in at least four different areas, including outdated kitchens and bathrooms.

The takeaway: Desperate homebuyers aren’t that desperate. Fixer-uppers can stay on the market longer and sometimes require discounts, with elevated prices and mortgage rates already straining the budgets of Americans looking to purchase a house.


Arrange No Cost Consultation

Subscribe to Construction Defect Journal

Construction Defect Journal Archives - Recent CD News for Construction Claims Professionals


Construction Defect Journal is aggregated from a variety of news sources, article submissions, contributors, and information from industry professionals.

No content on this site should be construed as legal advice or expert opinion. By viewing this site you agree to be bound by its terms and conditions


Copyright 2024 - Construction Defect Journal – All Rights Reserved