Prospective homebuyers are starting to feel stung as the market slips away from them.
The survey shows a shortage of inventory and rising prices—both of which naturally benefit sellers—are creating frustration for buyers trying to get in on the ground floor of the housing recovery.
According to Redfin’s findings, 79 percent of buyers who responded to the survey now believe home prices will increase in their neighborhood over the next year, up from 71 percent in Q4 2012.
The share of buyers who believe prices will rise “a lot” more than doubled, increasing to 22 percent from 10 percent previously. Read more...
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