Skip to main content

Nearly Half of Homebuyers Paying Above Asking Price

Feb 26, 2019
www.nrmlaonline.org

Forty-five percent of homebuyers who purchased a residential property in the past five years wound up paying more than the asking price before having their offer accepted, according to the 2019 NerdWallet Home Buyer Report. Sixty percent of respondents who bought a home in the past five years had to make more than one offer before closing, and 37 percent needed to make three or more offers before securing their purchase.
 
In a survey of 2,029 adults, NerdWallet found that 42 percent of respondents felt better this year about their overall ability to purchase a home compared with a year ago, up from 28 percent one year ago. However, 25 percent of respondents said they no longer felt financially secure after purchasing their current home—and 34 percent of first-time home buyers acknowledged carrying this sentiment.
 
Oddly, 62 percent of respondents believed that buyers need must put at least 20 percent down in order to purchase a home—current data has determined that 32 percent of current homeowners only put five percent down.
 
But the aftermath of the 2008 economic meltdown still resonates. Thirteen percent of respondents said they lost a home due to a financial event such as foreclosure in the past 10 years, while 61 percent have not bought a home since and 20 percent said they have swore off homeownership completely.

 
About the author
Published
Feb 26, 2019
Fed Holds Rates Steady As Economic Growth Stays Solid

Move comes amid continued pressure, frustration from President Trump

Guild Mortgage To Go Private In $1.3B Deal With Bayview Asset Management

Guild to remain independent post-acquisition, strengthening national retail and servicing strategy

Jun 18, 2025
Rocket Pro And Vetted VA Join Forces

What started as a Facebook group now educates 100K+ veterans monthly — Vetted VA and Rocket Pro working to bring ethics, clarity to a broken system

Jun 17, 2025
MBA Urges Shift To Single Credit Report Model, Citing Cost Savings And Efficiency

MBA says tri-merge credit checks cost lenders up to $100 per loan, doubling since pre-COVID, as industry pushes for a cheaper, single-report model

Jun 16, 2025
Fairway Acquires Hallmark Home Mortgage Through Asset Purchase

Hallmark to become new Fairway division, gets access to Fairway's Fairway's product portfolio, tech, and support resources

Jun 13, 2025
Trigger Leads Bill Clears Senate

Final push now left to House; reconciled bill needed next