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2008-10-08 18:27:49

Zillow Survey Outlines Future Homebuyer Activity


We want to share with you the results of a recent survey, in which Americans planning to buy a home in the next five years share their financial concerns. With financial worries so plentiful today, we thought the findings were interesting.

Interest rates were most often cited as a financial worry by U.S. adults who plan to buy a home within the next two years, according to a Zillow survey*. Sixty-eight percent of adults who plan to buy a home in the two years said interest rates were a concern, while 63 percent said local property taxes were a financial concern and 57 percent cited purchase price.
 
Of those planning to buy a home within the next two years, 94 percent said they had at least one financial worry about buying a home.
 
Financial Worries About Buying a Home Within the Next Five Years
 
Plan to buy in 2 Yrs or Less
Plan to buy in 3 Yrs or More
Interest rates
68%
24%
Local property taxes
63%
25%
Purchase price
57%
27%
Closing costs (e.g. legal fees)
41%
16%
Maintenance costs
39%
16%
Realtor fees
26%
12%
Inspection costs
16%
8%
Other
7%
2%

 Even as interest rates rose to the top of homebuyers’ concerns, mortgage rates recorded on Zillow Mortgage Marketplace remained last week. You can find more mortgage resources, like live rate tables and our mortgage blog, Mortgages Unzipped, on Zillow’s press page.

 
 

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