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Some Would-be Buyers Giving Up

Some Would-be Buyers Giving Up

“It’s definitely been tempting to give up,” Visscher told me. “Perseverance pays off,” she said, but added that “aggregate data suggest that some would-be buyers are likely putting their searches on pause so that they can regroup.”Some buyers are turning to the new-home market, where sales are up nearly 20% from a year ago. Buyers of new-build homes may not be outbid in the way that resale buyers are. According to one study, 44% of buyers found themselves in a bidding war last year. “Would-be sellers know they would face fierce competition when looking for a home to buy,” wrote Lewis in an email.

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