I Asked Real Buyers: How Hard Is It to Find a House Right Now?

By the numbers, things are looking better for home buyers this fall.

Active listings are up. Mortgage rates are down. October mortgage rates may drop, too, thanks to a widely expected cut to the federal funds rate at this month's Federal Reserve meeting. In fact, the economists at Realtor.com say Oct. 12-18 will be the best week to buy a house all year, pointing to friendlier trends in inventory, competition and seasonal price cuts.

Still, that doesn't mean it's easy out there. Despite recent growth, inventory is still 13% below pre-pandemic levels. As the market improves, what's still standing in the way of today's buyers? When hopes are high and your budget is tight, how do you know when to compromise?

I asked a couple of active house hunters to find out.

Jessica: "When am I being too particular?"

Jessica Galvanek, 32, has been searching for a home in Pittsburgh for about a year and a half. She recently left her job as a mail carrier to work for her partner's family business, an auto repair shop.

The couple is house-hunting together with a maximum budget of $350,000. The median listing price in Pittsburgh is $269,000, according to Realtor.com.

Galvanek's dream home is a prewar charmer from the 1930s (or earlier), with original woodwork, pastel tile and her one absolute must-have: radiators.

But that's been harder to find than the pair expected. Their price range is overrun with cheap, graywashed flips that strip any remaining character from older homes. Then there's the corporate investors.

"They don't even live here, or they're not even relevant to the local community," Galvanek says.

A 2024 University of Pittsburgh report found that national real estate firms have rapidly expanded their holdings in Allegheny County. Three companies bought more than 900 homes there since 2019, which made up a large portion of acquisitions in many Pittsburgh area communities.

Corporate real estate firms seek out properties at an entry-level price point, outbidding local buyers or paying cash. Then, they turn would-be starter homes into single-family rentals instead, squeezing out first-time home buyers like Galvanek.

"I don't feel like these people who have … infinite amounts of money should be able to come in and just tear apart all of the 'affordable' homes just so they could make some extra money," she says.

Last month, the couple lost a bidding war. They don't know who won yet, but that's the way it goes. Until then, their search continues.

"What happens if we're looking for a home for like three, four, five, 10 years?" she asks. "Like, when am I being too particular?"

Hannah: "A place where everyone can congregate."

Hannah Kinney, 33, was on the move for a few years, but now she's ready to put roots down near her core friend group in Des Moines. With relatives hours away, they've become each other's chosen family.

Kinney's budget is about $250,000, slightly above Des Moines' median listing price of $235,000, according to Realtor.com.

Her dream home: A mid-century modern with good bones and plenty of space for hosting.

"With grandparents and those older generations starting to pass away, I'm really trying to have a place where everyone can congregate," she says.

Kinney owned a home before, but she sold it after a breakup during the COVID-19 pandemic. With today's higher prices and mortgage rates, she can tell her money isn't stretching as far as it did when she bought her first house. So, Kinney earns extra income wherever she can. For starters, she dog-sits regularly.

"I picked up that side hustle through word of mouth from my main 9-to-5 job," she says. "And, trying to do other things, like donating plasma to be able to cover my grocery expenses."

So far, Kinney has had one offer accepted, but the home inspection came back with issues top to bottom: a bat infestation in the attic and foundation issues in the basement. It was devastating to walk away.

"I could see myself entertaining there, and I kind of let my feelings run wild," she says.

At the advice of a friend, Kinney says she now treats her house hunt like a job interview — envisioning her future there, but remaining emotionally detached.

Their advice: Don't settle.

Despite the heartbreak, the buyers I interviewed haven't lost hope. They'd rather hunker down through a grueling search than settle for a house that doesn't feel like the right fit.

"I can't fathom spending, like, hundreds of thousands of dollars on something that I don't even want," Galvanek says.

Another thing you shouldn't compromise on is finding the right buyer's agent. The best ones have market expertise to close a good deal, and the patience to keep you grounded when you don't.

Galvanek said she and her partner parted ways with their original agent, who didn't share their passion for preserving older homes.

My advice: Listen to your gut.

I'm a real estate writer, and as of last year, a first-time homeowner. So I've both given and received this advice: A "good enough" house still gets your foot in the door.

That saying is easily misunderstood, though. It's not about settling — it's a prompt to understand your values. What does "good enough" mean to you?

To find a place near friends, would you be willing to look at townhomes or condos instead of single-family homes? If you want an older home with character, are you willing to put work into a fixer-upper?

If the answer is "no," then how long are you willing to keep house hunting?

Those are questions only you can answer. Once you do, when the right place comes along, you'll feel it in your gut.

As of press time, Galvanek and Kinney are still looking.

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Abby Badach Doyle writes for NerdWallet. Email: [email protected].

The article I Asked Real Buyers: How Hard Is It to Find a House Right Now? originally appeared on NerdWallet.