«It’s really defeating,» one bidder said after losing out on a home despite offering more than the asking price.
Shortly after moving to South Florida for a new job with the U.S. military, Shannon Kaufman and his wife, Wendy, signed up for another mission: buying a home. After visiting 200 listings and making offers on 15 homes that ultimately didn’t pan out, the Kaufmans finally found a home that fits at least some of their needs. They’ll be renting it, however. «We found a place that’s smaller than we want, but it’ll work until we have something built or until the market cools off,» said Shannon Kaufman,47. America’s housing market has grown increasingly frenzied, and prices are out of reach for many buyers, especially first-timers. This spring, traditionally the busiest season for home sales, is more likely to deliver frustration and disappointment for aspiring homebuyers.
