The Native Realty Sales Director shared her insights on would-be homebuyers having to rent because of rising prices and competition from cash buyers willing to pay significantly higher than asking prices. The piece from Money reporter Aly Yale was also published on Yahoo!.

Burned-out house hunters are tired of bidding wars, rising prices and dwindling options and are bowing out of the purchase market, opting to rent instead

Kaley Tuning

“The Mahons’ is a common storyline these days, according to those in the industry. Burned-out house hunters are tired of bidding wars, rising prices and dwindling options and are bowing out of the purchase market, opting to rent instead.

“It’s common given the current market and environment that we are in,” says Kaley Tuning, the Native Realty agent who worked with the Mahons. “It just becomes frustrating for the everyday buyer. I’ve had buyers bid upwards of $40,000 over asking price and still get outbid.’

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