“Given the challenges of the year, it is surprising how many recent homeowners are happy with their purchase,” says Realtor.com Senior Economist George Ratiu. “We’ve had a very competitive housing market this year, characterized by very few homes for sale, steeply rising prices, and bidding wars. So it’s good to hear that the majority of buyers feel good about their decision to buy a home this year.”
With home prices at an all-time high and bidding wars more common, it begs the question: are buyers happy even if they spent well over asking price? Or do they fear they bought too high or took the risk of greater future expenses?
Stories of regret could emerge, but not this time. According to a recent Realtor.com® survey, most who closed on a home during the pandemic don’t feel buyer’s remorse.
In fact, nearly 75% of those who bought homes during the COVID-19 shutdown are happy with their purchase.
About 1,000 people who purchased homes within the past 12 months participated in the survey, which was conducted by Realtor.com between March 26 and April 7. Nearly 71% of those surveyed say buying was a good decision and 75% say their new home is a good fit for their families.
The only thing they would have changed is that many homebuyers said they wish they had moved sooner while more homes were for sale and fewer buyers were competing.
“Given the challenges of the year, it is surprising how many recent homeowners are happy with their purchase,” says Realtor.com Senior Economist George Ratiu. “We’ve had a very competitive housing market this year, characterized by very few homes for sale, steeply rising prices, and bidding wars. So it’s good to hear that the majority of buyers feel good about their decision to buy a home this year.”
