SANTA CLARA, Calif.,
April 12, 2017 /PRNewswire/
-- Ranch-style homes, large backyards and updated kitchens top
shoppers' wish lists this spring, according to
realtor.com®'s home buyer survey. More than half of home
seekers are looking for a three-bedroom home, while 75 percent of
shoppers are considering a two-bathroom home.
Realtor.com® is a leading online real estate destination
operated by News Corp [NASDAQ: NWS, NWSA]; [ASX: NWS, NWSLV]
subsidiary Move, Inc.
The survey, based on March data from shoppers on
realtor.com®, provides insight into home buying trends
in 2017 by analyzing what features shoppers are looking for this
spring and summer - the peak home buying seasons.
"The insights from our most recent consumer survey provide a
glimpse into what buyers are looking at today," said Sarah Staley, housing expert for
realtor.com®. "While we often think of dream homes as
being big and bold, that's not what we're hearing from potential
buyers today. These insights can help guide potential sellers in
deciding which rooms or features to invest in before listing their
homes."
Following are key findings of the realtor.com® home
buyer survey. Complete survey findings can be viewed at
http://research.realtor.com/spring-home-shoppers.
Large backyards, garages and updated kitchens top list of
most searched attributes
All age groups are looking for some
combination of a backyard, garage and updated kitchen.
Unsurprisingly younger homebuyers who are more likely to have young
children in the house are particularly excited about finding a
large yard. These age groups are also most interested in living in
a good school district. The least-searched features were a
guesthouse, mother-in-law suite, solar panels and a "man cave."
Ranch-style homes and kitchens rule in 2017
Ranch
homes led shoppers' rankings of desired home styles by far, with 42
percent of shoppers looking for a ranch home. No other style of
home broke 29 percent, although contemporary came close with 28
percent, followed by Craftsman and Colonial styles.
Eighty percent of shoppers ranked the kitchen as one of their
three favorite rooms in their home. Kitchens were followed by
master bedroom (49 percent) and living room (42 percent) among most
age groups. Although, shoppers over 55 years old preferred garages
over living rooms.
Privacy ranks as shoppers' top goal for buying, largely
driven by buyers over age 45
Most shoppers cite privacy as
their top goal when searching for a home. Shoppers want to have a
space that is solely their own. This preference can be attributed
to mostly buyers between 45 and 64 years old, for whom privacy
tends to beat out other preferences such as stability, family needs
and financial investment.
Millennial shoppers cite family needs as the primary reason
for entering the housing market
As millennial buyers
prioritize family needs, it is no surprise that most millennials
cited life events like increasing family size and getting married
or moving in with a partner as their primary triggers for finding a
new home. Shoppers age 35-44 are also focused on family needs. Most
of this group cited better school districts or changing family
circumstances as their primary reasons for purchasing a new home.
Shoppers over age 45 are looking to downsize, as all age groups
above 45 cited planning for retirement as their primary motive for
finding a new house.
Desire for single-family home rises with age
Among
younger buyers, many of whom are buying starter homes, 40 percent
of shoppers were looking for townhouses and row houses. As shoppers
age, however, that number declines and single-family homes are a
clear preference. The older the age group is, the less likely they
are to consider a townhouse and the more likely they are to prefer
a single-family home.
About realtor.com®
Realtor.com®
is the trusted resource for home buyers, sellers and dreamers,
offering the most comprehensive source of for-sale properties,
among competing national sites, and the information, tools and
professional expertise to help people move confidently through
every step of their home journey. It pioneered the world of digital
real estate 20 years ago, and today helps make all things home
simple, efficient and enjoyable. Realtor.com® is
operated by News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV]
subsidiary Move, Inc. under a perpetual license from the National
Association of REALTORS.® For more information, visit
realtor.com®.
Media Contact:
Realtor.com®
Lexie Puckett Holbert –
lexie.puckett@move.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/realtorcom-consumer-survey-identifies-home-shoppers-preferences-in-2017-300438458.html
SOURCE realtor.com