See the numbers behind how Americans rent, buy, sell and even think about home
Both renters and buyers face challenges in finding a place to call home, and the Consumer Housing Trends Report is a deep dive into understanding them.
They surveyed over 13,000 people to determine how Americans rent, buy, sell and think about real estate. Below, they break down some of the most surprising results.
More Americans are renting today than in recent decades — some by choice and some simply due to market conditions.
Thirty-seven percent of American households are renters — about 43.7 million homes — which is an increase of 6.9 million homes since 2005.
While part of this increase is due to the 8 million homes lost to foreclosure during the recession, renters today also prize the maintenance-free and flexible lifestyle renting offers.
Buying is tough in all markets. For most Americans, it’s the biggest purchase they’ll ever make and an investment they’ll tap into as part of retirement.
In particular cities, purchasing a home has become a competitive game, complete with bidding wars and offer negotiations. It makes sense that most buyers rely on agents to help them through the process.
Although some hot markets have favorable conditions for sellers, selling is still rarely an easy process.
Sellers have two main goals when they list their homes: sell their home in their preferred time frame and for their desired price. Balancing the two is a delicate dance, and most sellers are also buyers searching for a new home.
Owning a home is a lot of work. It’s also a great investment, especially in many of today’s markets where annual appreciation rates are higher than they’ve been in decades.
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