MADISON, N.J., Nov. 17, 2021 /PRNewswire/
-- Americans pressed pause on many milestones in 2020,
but in 2021 they reignited plans to buy and sell homes. The real
estate market is strong according to the National Association of
Realtors® and homeownership is top of mind for
Americans. In fact, 82% of unmarried Americans would rather invest
in a home than pay for a big expensive wedding, according to the
latest survey from Coldwell Banker Real Estate LLC, a Realogy
(NYSE: RLGY) company.
Conducted online by The Harris Poll among over 2,000 U.S.
adults, the survey reveals what's on home buyers' and sellers'
minds as we close out a strong year for real estate in a market
marked by tight inventory. A sellers' market still prevails and
competition remains strong across many cities, especially as
younger Americans enter the real estate market and various
demographics set their sights on homeownership.
Who's Got Real Estate on their Mind?
- Gen Z & Millennials are moving on up: Younger
Americans surveyed (age 18-44) are more likely to say owning a home
is an important financial goal for them (45%) compared to those 55+
(30%).
- Goodbye renting, hello homeownership: 47% of Respondents
who are renters say "owning a home" is an important financial goal
for them.
- Hispanic homeownership desire is high: 42% of Americans
surveyed who self-identified as Hispanic say "owning a home" is an
important financial goal, and among Hispanics this is higher than
any other financial goal.
As many Americans experienced life in 2020 without big vacations
or weddings, Coldwell Banker Real Estate set out to discover what
goals Americans would prioritize. Overall, Americans are still
thinking of homeownership, indicating that they would rather
allocate money to achieving those dreams than investing in other
personal milestones such as big weddings, vacations or even paying
off their student debt.
What Would They Be Willing to Trade for a Home?
- Home is the new engagement ring: 82% of unmarried
Americans surveyed, including 85% of females who aren't married,
would rather invest in a home than pay for a big expensive
wedding.
- Staycation: Over three quarters of Respondents (77%)
would rather invest in a home than spend money on an expensive
vacation.
- Save student debt for later: College graduates are more
likely to select "owning a home" (41%) as an important financial
goal than "paying off student debt" (17%).
Amid this tight housing market – and with so many Americans
invested in finding the perfect home to fit their lifestyle –
Coldwell Banker affiliated agents serve as trusted advisors,
guiding people home since 1906.
CLICK TO TWEET:
Homeownership over anything? @ColdwellBanker's latest survey
looks at what Americans would trade to make their homeownership
dreams a reality. Check out the findings:
https://blog.coldwellbanker.com/fall-survey-2021/
QUOTES:
"The 2021 housing market has been marked by low inventory and
competition as Americans continue to keep homeownership top of
mind. Our latest survey suggests that, with generations of all ages
and backgrounds prioritizing homeownership over other financial
goals, this sellers' market may continue into 2022. Our network of
approximately 100,000 agents is ready to help home sellers take the
next step."
- M. Ryan Gorman, president and CEO, Coldwell Banker
Real Estate LLC
"Coldwell Banker's survey found that homeownership is a primary
financial goal for 47 percent of Americans surveyed who identify as
Hispanic. The U.S. Hispanic population reached more than 62 million
in 2020, growing significantly in the past decade, according to the
Pew Research Center. The affiliated agents at Coldwell Banker
recognize this incredible potential for increasing homeownership,
and they're equipped to help this population looking for a home
navigate the complexities of a tight housing market."
- Ricardo Rodriguez, Coldwell Banker Global Luxury
Ambassador, Boston, Mass.
Survey Methodology
This survey was conducted online
within the United States by The
Harris Poll on behalf of Coldwell Banker from
October 21 - 25, 2021 among 2,027
adults ages 18 and older. This online survey is not based on a
probability sample and therefore no estimate of theoretical
sampling error can be calculated. For complete survey methodology,
including weighting variables and subgroup sample sizes, please
contact dgorecki@gscommunications.com.
About Coldwell Banker Real Estate LLC
Powered by its
network of over 99,000 affiliated sales professionals in
approximately 2,200 offices across 40 countries and territories,
the Coldwell Banker® organization is a leading
provider of full-service residential and commercial real estate
brokerage services. The Coldwell Banker brand prides itself on its
history of expertise, honesty and an empowering culture of
excellence since its beginnings in 1906. Coldwell Banker Real
Estate is committed to providing its network of sales professionals
with the tools and insights needed to excel in today's marketplace
and is known for its bold leadership and dedication to driving the
industry forward. The brand was named among the 2021 Women's Choice
Award® Most Recommended brands for customer
experience and overall quality. Blue is bold and the integrity and
values of Coldwell Banker give the Gen Blue network an unbeatable
edge. Coldwell Banker Real Estate LLC fully supports the principles
of the Fair Housing Act and the Equal Opportunity Act. Each office
is independently owned and operated. To join Coldwell Banker Real
Estate and unlock the possibilities of Gen Blue®, please
visit www.coldwellbanker.com/join.
About Realogy Holdings Corp.
Realogy Holdings Corp.
(NYSE: RLGY) is moving the real estate industry to what's next. As
the leading and most integrated provider of U.S. residential real
estate services encompassing franchise, brokerage, relocation, and
title and settlement businesses as well as a mortgage joint
venture, Realogy supported approximately 1.4 million home
transactions in 2020. The company's diverse brand portfolio
includes some of the most recognized names in real estate: Better
Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®,
Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby's
International Realty®. Using innovative technology, data and
marketing products, high-quality lead generation programs, and
best-in-class learning and support services, Realogy fuels the
productivity of its approximately 196,600 independent sales
agents in the U.S. and approximately 140,800 independent sales
agents in 117 other countries and territories, helping them build
stronger businesses and best serve today's consumers. Recognized
for ten consecutive years as one of the World's Most Ethical
Companies, Realogy has also been designated a Great Place to
Work four years in a row, named one of LinkedIn's 2021 Top
Companies in the U.S., and honored on
the Forbes list of World's Best Employers
2021.
Media
Inquiries:
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Athena
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Coldwell Banker
Real Estate LLC
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G&S for
Coldwell Banker Real Estate LLC
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973.580.3518
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Athena.Snow@coldwellbanker.com
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SOURCE Coldwell Banker Real Estate LLC