Survey Data Reveals Change in Consumer Behavior
Strong Buying Season, Smart Buyers
The Owners.com survey found 80 percent of home buyers are confident that the 2016 home buying environment will be as good as or better than it was five years ago, and 92 percent say that mortgage interest rates are "somewhat to very important" to their decision on when to buy. 69 percent of respondents gave themselves an "A" or "B" grade when it comes to understanding the home buying process, suggesting confidence in their ability to self-navigate the real estate market.
"Consumers are heading into the spring home buying season with a positive outlook, according to our findings," said
Taking the Transaction Online
According to the survey responses consumers are now more inclined than ever to use technology to facilitate key parts of the real estate transaction. 73 percent of survey respondents would use online sites to search for properties, more than half (53 percent) are inclined to book home tours online, 43 percent would consider online financing products and 27 percent would make a purchase offer online.
2016 Home Trends
When thinking of luxury must-haves in their new home, 29 percent of survey respondents dream of a fully equipped smart kitchen, with 19 percent wanting a spa bathroom. Respondents cited upgrading to a better home (33 percent), wanting to invest in real estate (25 percent) or relocating to a new area (24 percent) as the reason for their interest in a home purchase this year.
The Owners.com Consumer Real Estate Index was conducted online among a random sample of 1,000 consumers who are likely home buyers in 2016. Fieldwork was conducted by independent research firm
Owners.com is an online brokerage that gives consumers a choice in the services they use to buy or sell their homes. Owners.com offers a broad inventory of homes from local MLS boards to for-sale-by-owner listings as well as technology-enabled tools that help consumers save money and time. Buyers and sellers can access a team of expert advisors to support their home buying and selling experience and save on the standard commissions. For more information, check out Owners.com, facebook.com/ownerscom and twitter.com/ownersdotcom.
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