The National Association of REALTORS® Profile of Home Buyers and Sellers has been released. This annual survey of more than 5,700 respondents offers ample information about home buyers, and enables Realtors to draw some conclusions about what they’re looking for in a home.
Knowing the big picture trends makes Realtors more attuned to market and home buyer behavior, and better able to meet home buyers’ needs. Among other factors the characteristic that matters most to home buyers is the quality of the neighborhood, convenience of its location to work, and overall affordability of the home are the top three factors influencing neighborhood choice – the same factors that emerged in the last two years of the Survey.
Overall, only 25 percent of survey respondents chose neighborhood based on the quality of the schools (down slightly from 27 percent). But, among families with children under 18 residing in the home, 46 percent choose based on school district quality, down from 55 percent last year. Sixty one percent prioritized the quality of the neighborhood, down from 72 percent last year.