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Survey: Majority of consumers think now is good time to buy a home

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Survey: Majority of consumers think now is good time to buy a home

Nearly nine in 10 consumers believe now is a good time to buy a home, according to a survey of 10,000 consumers by John Burns Real Estate Consulting. While most think the market is ripe, many said they aren't finding what they want in a new home. For example, style and design matter more than price, and personalization is in high demand.

By Todd Loesch, Housing Zone Contributing Editor February 24, 2011

Nearly nine of 10 consumers think now is a good time to buy a home, according to a survey by John Burns Real Estate Consulting.

But although 88% of the 10,000 consumers are ready, they aren’t finding what they want. Here are the top findings from the survey:

  1. Style and design matter more than price:For example, the Irvine Company scrapped a struggling floor plan, came up with a new design based on customer feedback, and sold 1,000 homes in 2010 at prices they didn’t think possible.
  2. Personalization is paramount:Homeowners want to make customize their home and make it their own. In many cases, it’s even more important than tax benefits or investment potential. Standard Pacific Homes, for example, has a section on its website called “Personalizing.”
  3. Bigger is still better:Despite the recent trend in building smaller houses, most consumers want to buy bigger homes.
  4. It’s not only about what’s inside:The yard, street appeal and a pleasant street scene are more important than community amenities.
  5. Saving green more important than going green:Younger consumers are more interested in saving money. But, if priced similarly, green homes outsell traditional ones. 

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