Homebuyers Name Rising Cost as Biggest Worry: Redfin

Potential homebuyers were most worried about price in the second quarter, according to a new Redfin survey.

Among all the concerns of consumers looking to buy a house, the rising cost of residential real estate was tops, Redfin said in its quarterly Real-Time Buyer Survey of 3,300 homebuyers. A year ago, the lead concern was limited inventory.

In the survey, 27% of respondents said high prices was their biggest worry. First-time buyers were even more worried about high prices, with 31% listing it as their biggest concern.

The second-biggest concern was competition from other buyers, as 17% listed it as their top worry.

"Buyers want to do everything possible to be competitive," Stuart Naranch, a Redfin agent in Washington, D.C., said in a news release.

Redfin's survey was conducted from July 27 to July 29 in many large U.S. markets across the country.