A third of would-be buyers cannot find affordable US homes, industry surveys show
September 14, 2023 by One survey of agents by the National Association of Realtors found that 34% of their customers cited a lack of affordable housing on the market as the number one reason why they have not purchased a home. As interest rates rise to their highest in decades, another 18% said they are waiting for them to drop before purchasing a home. These two main issues have caused trepidation amongst prospective buyers as the housing market is at the mercy of the Federal Reserve’s efforts to curb inflation and soften demand.