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
