Twenty-six percent of US consumers considering high-end home purchase, additional 13% ready to buy a luxury home; of people looking to buy a high-end home, 19% began search after recent career success, 17% began search because they recently retired: NAR
SAN JOSE, California
April 24, 2014
– The survey also found that 26 percent of consumers are considering a luxury home purchase
Nationally, 13 percent of surveyed consumers are ready to buy a luxury home and another 26 percent are considering a high-end home purchase, according to the Luxury Homebuyer Survey conducted by realtor.com®, a leader in online real estate operated by Move, Inc. (NASDAQ: MOVE). Survey data reveals the buying motivations of transaction-ready consumers and others considering purchase, as well as provides insight into their preferred luxury property amenities and resale expectations. Realtor.com® surveyed more than 1,500 visitors to its website from March 17 to April 2.
Percentages of surveyed consumers currently considering a luxury home purchase:
Most popular price points at which surveyed consumers stated that luxury housing begins, by U.S. regions:
"The luxury homebuyer is an important contingent of today's real estate market, as luxury homes tend to drive trends throughout the entire balance of the marketplace," said Barbara O'Connor, chief marketing officer for Move, Inc. "We are seeing large portions of buyers throughout the country – from 23 percent in the Northeast region and 23 percent in the South Atlantic – eyeing luxury homes. This means sellers, builders, and certainly REALTORS® should all pay particular attention to desired luxury amenities such as chef-quality kitchens and master suite features to close deals for them."
Of the survey respondents who are currently looking for a luxury home:
Of the survey respondents who are NOT in the market for a luxury home:
For complete survey results including: complete amenity priorities of the luxury buyer, consumer willingness to break budgets, reasons for current home shopping or perceived market-by-market ranking for luxury real estate, please contact Lexie Puckett at 805-557-3151 or Lexie.Puckett@move.com
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Operated by Move, Inc., (NASDAQ: MOVE), realtor.com® helps connect people with the content, tools and expertise they need to find their perfect home. As the official website of the National Association of REALTORS®, realtor.com® empowers consumers to make the smartest decisions when it comes to finding a home by leveraging direct connections with more than 800 MLSs to deliver the most accurate and up-to-date listing information in neighborhoods across the country, and by making timely and meaningful connections between consumers and REALTORS®. Whether through desktop, mobile, or tablet versions, realtor.com® is where home happens.
ABOUT MOVE, INC.
Move, Inc. (NASDAQ: MOVE), the leader in online real estate, operates: realtor.com®, the official website of the National Association of REALTORS®; Move.com, a leading destination for new homes and rental listings, moving, home and garden, and home finance; ListHub™, the leading syndicator of real estate listings; Moving.com™; SeniorHousingNet; SocialBios; Doorsteps®; TigerLead®; Top Producer® Systems and FiveStreet. Move, Inc. is based in San Jose, California.
This news release may contain forward-looking statements, including information about management's view of Move's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Move, its subsidiaries, divisions and concepts to be materially different from those expressed or implied in such statements. These risk factors and others are included from time to time in documents Move files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Move's future results. The forward-looking statements included in this press release are made only as of the date hereof. Move cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Move expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances.