WASHINGTON (TNND) -- One in five homebuyers is willing to sacrifice personal safety to afford a home, according to a newly released Redfin survey.
More than a quarter of homeowners said they would compromise between safety and affordability by giving up an area with lower crime.
In July, home prices hit a record high due to a shortage. There has not been enough construction of new homes to keep up with the country's population.
The affordability challenges due to higher rates are keeping prospective buyers on the sidelines, and inventory is building up and will need to be reduced in price to clear the market," said Emanuel Santa-Donato, SVP and chief market analyst at Tomo Mortgage.
The Redfin survey polls 1,224 individuals who plan to buy a home within the next 12 months.
"Prices are starting to come down, but buyers-especially first-timers-are still battling with affordability," said Katie Shook, a Redfin Premier agent in Phoenix.
At the same time, personal safety is something homebuyers can't give up; 70% of respondents said that personal safety and low crime were non-negotiables.
It also also a top priority for the current presidential administration. This week, President Donald Trump began his crackdown on crime in Washington, D.C., deploying National Guard troops. The president also toyed with the idea of doing this in other U.S. cities.
"We have other cities also that are bad. Very bad. You look at Chicago, how bad it is. You look at Los Angeles, how bad it is," Trump said during a White House news conference. "New York has a problem. And then you have, of course, Baltimore and Oakland, we don't even mention that anymore. They're so far gone. We're not going to lose our cities over this. And this will go further. We're starting very strongly with D.C., and we're going to clean it up very quickly, as they say."