Nearly Half of Homebuyers Paying Above Asking Price – NMP 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
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026