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There’s a huge gap between what home buyers want and what’s for sale

If you’re looking to buy a home, you may want to prepare yourself for disappointment.

A new study from Realtor.com found that there is a large gap between the home price buyers are looking for and the listed prices. Half of today’s home shoppers want to purchase a property for under $288,000, the study found, based on an analysis of Realtor.com home-search data. That’s 9.1%, or $27,000, below the median price of homes currently on the market.

Closing that gap won’t come easily. Realtor.com estimated that roughly 94,000 homes priced between $100,000 and $340,000 would need to be put up for sale to achieve equilibrium.

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