ROCKFORD, Ill. (WTVO) — As the home-buying process starts to become more of a competition than an exciting life moment, some families are getting tired.
It’s known as ‘buyer fatigue.’ We spoke with one man who says he’s experienced this firsthand.
“It was extremely difficult the whole process was stressful for my family and all of us together.,” said Dieu Merci, who helped his mother find a home.
Merci moved from Texas to Illinois with his mother and two siblings a year ago. They’ve lived in an apartment but were ready to buy a home.
“You can tell there was a lot of competition going on and a lot of people were into buying houses at the time it was very difficult finding a house when everyone else is trying to get a house,” Merci explained.
Offer after offer, the family kept striking out.
“We actually put a lot of offers out there and a lot of offers weren’t really accepted it was difficult and stressful during the time,” he added.
There was a moment of hope for the family when they finally found their dream home.
“There was a house that was extremely perfect the house was next to my auntie and believe the house was available for 115 grand but we made an offer higher than that and, unfortunately, we did not get the house and that was extremely sad for my entire family.”
Real estate agent Dimas Trujillo says many people are facing buyers fatigue after being discouraged by so many rejections.
“A lot of buyers do lose motivation just because of the fact that they end up losing offers left and right it’s very hard for buyers to remain calm and be patient,” said Trujillo.
Trujillo says gone are the days of buying homes below or at asking price.
“So buyers are forced to make their offers very very appealing many instances they need to offer over asking price,” he explained.
“My mom would be so stressed about the fact everyone is taking properties here and there if you’re not quick enough to make an offer it ‘s gone,” added Merci.
It’s not all bad news. Luckily, after several attempts and a lot of patience, the Merci family was able to find a home in Belvidere and will soon be closing on it.