With Rising Mortgages, Pandemic-Era Homebuyers Report Buyer’s Remorse

It wasn’t that long ago—2021 and early 2022, to be exact—that homes in the United States were selling in weeks or even days instead of months. In 2022, even though 26 percent of U.S. adults were millennials, more than half of mortgage applications came from that age group, according to CoreLogic, representing a majority of first-time buyers. The relative speed at which homes were sold during that period also led to some fairly substantial buyer’s remorse for some.   According to a 2023 American Homebuyer Report in which 1,000 people in the United States who purchased homes in 2022 and 2023 were surveyed, well over one-third (36 percent) were unsatisfied with their buying experience, and even more thought the process was more difficult than expected. And with some homes selling in that period for over asking price, the speed in which some millennials grabbed new dwellings didn’t reflect future planning in some cases.  ...