People Today Buy Home More Frequently

People are buying more homes. Recent surveys indicate that people these days (especially those with an income of $75,000 or higher) are buying homes more often than their parents or grandparents.

Home buyers today, however, appear to be buying homes as need suits – not as financial investments. only 5 percent of respondents view their current home strictly as part of their financial portfolio, compared to 67 percent of respondents who consider their home a ‘home’ first.
When asked in the “Coldwell Banker 2006 Homeownership in America Survey” for reasons why they move:

  • 48 percent of respondents indicated they moved because of their career,
  • 45 percent cited a better community lifestyle and
  • 27 percent cited a new relationship / marriage
  • 16 percent cited a need to be closer to family
  • 15 percent cited a more affordable location
  • 15 percent cited a birth or adoption / growing family
  • 13 percent cited a more affordable housing
  • 13 percent cited a warmer climate
  • 12 percent cited displeasure with the current home
  • 11 percent cited a divorce

For more information, read the full article on National Realty News.

Category: MN Housing Market

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