US housing market: How do buyers feel about fixer-uppers? – Yahoo Finance

1 minute, 24 seconds Read

American homebuyers just aren’t feeling the love from the US housing market. Home prices have spiked in popular metro areas across the country and renters feel hopeless about the transition to ever owning a home, what kind of options are left in current real estate markets?

Citing survey data out from John Burns Research and Consulting, LLC, Yahoo Finance Housing Reporter Dani Romero explains the circumstances for homes on the resale market in need of repairs. Are fixer-upper homes a no-go even for the most desperate buyers?

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This post was written by Luke Carberry Mogan.

Video Transcript

So Danny home buyers, they don’t seem like they have a lot of choices right now.So ho ho how desperate is the situation here, Brad buyers are saying no, go to those fixer uppers.Uh They don’t really want to be chip and Joanna right now, even though that new listings have increased somewhat, the quality of those properties have not.And data from John Burns research and consulting.They surveyed about 1400 resale agents and they found that 99% of those agents said that they have seen those home listings need some form of uh there was uh and repair and or updates.Meanwhile, two thirds of those agents also said that they saw homes that needed severe updating of kitchens and bathrooms.So really this this data from John Burns really reflects that buyers are not that desperate right now.They want those move in ready homes and that’s something where the builders have been able to step up the game and capture those uh customers.Brad

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