This Is Why Being a Homebuyer Really Sucks Right Now

home for sale sign in flower bedIt's not fun being a homebuyer these days. We've heard about rampant bidding wars all over the place and rapidly rising home prices -- which means homebuyers are having difficulty snagging the homes they want, and the ones they do get aren't as cheap as they might have been a few years ago. (Of course, all of that sounds pretty good for the people selling!)

Just how tough is the market out there for buyers? According to a new survey by real estate firm Century 21, pretty tough. Get a load of these numbers:

• 33 percent of people currently looking for a home have been house hunting for more than a year.
• 67 percent have been on the hunt for up to a year.
• 42 percent of house hunters have put an offer on a home in the past six months -- but only 11 percent of those have had their offers accepted.
• That old adage "location, location, location" is becoming less important: 80 percent of homebuyers say they would compromise on a location-related benefit such as commute, proximity to friends and accessibility to restaurants and entertainment in order to snag a home.

Here's a handy infographic from Century 21 breaking down the shifting mindset of homebuyers in a market overwhelmingly favoring sellers:

More about homebuyers:
More Young Couples Say 'I Do' to Buying a Home Before Marriage
Renters Looking to Own Are Ready to Buy, Survey Says
5 Key Steps to Your 1st Real Estate Purchase

More on AOL Real Estate:
Find out how to calculate mortgage payments.
homes for sale in your area.
foreclosures in your area.
See celebrity real estate.

Follow us on Twitter at @AOLRealEstate or connect with AOL Real Estate on Facebook.

Home Price Index Best Since 2006
Read Full Story

Can't get enough real estate news?

Sign up for Finance Report by AOL and get everything from celebrity homes to renovation tricks delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

Find a home

Powered by Zillow