Tips for Frustrated Home Buyers

WASHINGTON, July 19, 2017 /PRNewswire-USNewswire/ -- Housing shortages across the country can make home buying ferociously difficult. That frustration is especially acute for first-time buyers, said Senior CFP Board Ambassador Jill Schlesinger, CFP®.

"The biggest hurdle for the housing market in the middle of 2017 is low inventory," said Schlesinger. "Housing starts, housing permits, new home construction and pending home sales have all slowed this summer. This all adds up to fewer options for those looking to buy a house, especially for the first time."

Prices have increased by 40 percent in the last four years, according to the National Association of Realtors. Meanwhile, incomes are up only 10 percent over the same period. Americans may feel more confident in their economic future – but as they head out to buy a house, they are coming up short when it comes to taking one of the first steps toward the American dream, Schlesinger said.

It is possible to keep a cool head in this hot market. In her latest contribution to LetsMakeAPlan.org, Schlesinger offers the following tips and others for home buyers pounding the pavements.

To buy the house of your dreams in this environment, you may need to save more, look longer and be alert to unexpected opportunities. A CFP® professional can help you prepare.

ABOUT CFP BOARD

The mission of Certified Financial Planner Board of Standards, Inc. is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for competent and ethical personal financial planning. The Board of Directors, in furthering CFP Board's mission, acts on behalf of the public, CFP® professionals and other stakeholders. CFP Board owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.  CFP Board currently authorizes over 77,000 individuals to use these marks in the U.S.

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SOURCE Certified Financial Planner Board of Standards, Inc.