Survey Finds That Home Buyers Are Optimistic About 2016

Posted by Patrick Barnard on March 31, 2016 No Comments
Categories : Residential Mortgage

So, are consumers psyched for the spring home shopping season?

A recent consumer survey conducted by online real estate firm Owners.com finds that home buyers are optimistic about the months ahead.

Of the 1,000 potential home buyers who took the survey in January, about 80% said they thought the 2016 home buying environment would be the same, if not better, than the previous five years.

About 33% of respondents said their motivation for buying a home was driven by their desire to upgrade to a better home. About 25% said they wanted to invest in real estate, and about 24% said they needed to relocate. About 21% said their need to move was based on a life-altering event.

About 92% said interest rates were a very or somewhat important factor in their decision to buy a home in 2016.

The most sought-after luxuries are a fully equipped smart kitchen (29%) and a spa bathroom (19%).

About 73% of survey respondents said they would use online sites to search for properties. About 53% said they were inclined to book home tours online.

About 43% said they would consider online financing products – and 27% said they would make a purchase offer online.

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