More house hunters taking hiatus

Mood of the Market

We think of real estate transactions as things that are executed by a doer — whether buyer or seller. But it’s actually a two-way street. The Sunday Do-It-Yourself Open House hunting; the vigilant tidying to be ever-ready for showings; the mental and verbal processing of all of those houses — all of these actions that go into real estate deals are not just impacted by, but have impacts on, the buyer or seller doing the deal.

As house hunts grow longer, I’ve noticed a trend of buyers-in-progress consciously and intentionally giving themselves a brief time-out from the process, usually taking off anywhere from a weekend to two weeks. One client flew to Barcelona, Spain, for some respite after a particularly frenzied series of bidding wars. Another took a week to mourn her recently departed father, and, in the process, had some insights about what he would want her to think and feel about the place she eventually bought.