What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Conquering the Mortgage Lender’s Dilemmas

This webinar provides a roadmap for creating a sophisticated, digital-first cost improvement strategy to maximize profits by reducing high processing environments.

HW's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

We need higher mortgage rates to cool the housing market

2020-2024 will have the best housing market demographics and the lowest mortgage rates ever recorded, which could accelerate real home prices too quickly.

Real Estate

Americans say buying a home is most stressful event in modern life

30% reduced to tears while buying first home

It’s no secret that buying a home can be a complicated and even confusing process – and now one survey showed just how stressful Americans say that process is.

As it turns out, many Americans, about 40%, say buying a new home is the most stressful event in modern life, according to a survey of 2,000 Americans by Homes.com. Another 44% said they felt nervous throughout the home-buying process.

In fact, many say that going on a job interview, hosting Thanksgiving dinner and applying for college are all less stressful life events than buying a home.

“First-time homebuyers are often stressed and overwhelmed when making such a large purchase like a home,” said David Hoegerman, Homes.com senior manager of content. “As a result, they are looking for guidance and assistance to help make the process easier and smoother.”

Here are some of the specific problems buying a home causes, according to the survey:

 

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The study also found the average American looked at about six properties before settling on “the one.” But perhaps the stressfulness of the process led them to make quick decisions based on emotions.

That’s because, even after all of this stress, a full 10% of homebuyers said they suffered from buyer’s remorse after purchasing their home.

“At the end of the day, buying a home is often the largest purchase the average American will experience in their lives,” Hoegerman said. “While it can be stressful and overwhelming, there are steps people can take to alleviate the tears and arguments that are bound to arise.”

“By doing research and discussing your desires and needs with your real estate agent, you can find a home that meets your needs while also staying within your budget,” he said.

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