WRE News March 8, 2024
Buyer
Today’s homebuyers place more emphasis on the property’s price rather than its location, according to a new survey released by Coldwell Banker Real Estate, an Anywhere (NYSE: HOUS) brand.
In a nationwide poll of 4,213 Americans, 56% of respondents cited price as being more important than location, which was cited by 50%. Women valued price more than men – 60% to 48%, respectively.
Still, the value of location remained considerable – nearly one-third of respondents (32%) said their ideal home is located in the South, while one-quarter pointed to the Northeast (24%). Location also played a strong role in the decision making of many home sellers – 39% of respondents who planned to sell their home in the future said they were more likely to move to a different city after they sell their home, compared to only 19% of sellers who were polled in 2022.
Among buyers, 43% of respondents admitted they were either somewhat influenced or highly influenced by social media in their desire to purchase a particular type of home – and among buyers of luxury properties, that percentage was 73%. However, the Gen Z respondents admitted they have been influenced by TikTok (68%) while consumers aged 55 and above are most likely to have been influenced by Facebook (54%).
Looking ahead, more than half of respondents (56%) believed the real estate landscape will either improve or remain the same in 2024 compared to the previous year.
Stay up to date on the latest real estate trends.
February 5, 2025
February 4, 2025
Except for Canada’s famous sites and biggest cities, most American travelers — including travel writers — know very little about other places to see and restaurants to… Read more
February 4, 2025
How many times a day do you touch your phone?
February 4, 2025
Feeling low-energy?
February 4, 2025
There is more to homeownership than mortgage costs – indeed, a new data study published by Clever Real Estate determined the typical homeowner spends an average of $24… Read more
February 4, 2025
Nearly half (47.7%) of mortgaged residential properties were considered equity-rich in the fourth quarter of 2024, according to data from ATTOM.
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today