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REALTOR®: Recent surveys indicate buyer home feature preferences

Wednesday, December 11, 2013

Buyer optimism about the housing market has risen dramatically over the past five years. With this in mind, REALTORS® and builders are taking note of features buyers want and what they don't want in a new home.

According to California Association of REALTORS®' 2013 Home Buyer Survey, 60 percent of home buyers surveyed said they believe home prices would increase in five years, compared with just 41 percent last year. Only 35 percent of buyers surveyed believed home prices would increase during the housing downturn in 2009. Asked if they expected prices to rise next year, 36 percent of home buyers replied yes, compared with 25 percent last year and just 8 percent in 2009.

With buyer optimism and an improving market to look forward to next year, it is important to take note of home feature preferences of buyers. According to the National Association of REALTORS®' 2013 Profile of Buyers' Home Feature Preferences, 65 percent of home buyers nationwide consider central air conditioning very important and 39 percent of buyers consider a walk-in closet in the master bedroom also very important.

A survey by the National Association of Home Builders (NAHB) indicates buyers want: Energy Star-rated appliances, 94 percent; laundry room, 93 percent; Energy Star rating for the whole home, 91 percent; exhaust fan in the bathroom, 90 percent; exterior lighting, 90 percent; bathroom linen closet, 90 percent; Energy Star-rated windows, 89 percent; ceiling fans, 88 percent; garage storage, 86 percent; table space for eat-in the kitchen, 85 percent; walk-in kitchen pantry, 85 percent.

According to the NAHB survey, buyers do not want an elevator, 70 percent; just a shower stall in the master bath, 51 percent; wet bar, 41 percent; laminate countertops, 40 percent; outdoor kitchen, 31 percent; glass-front cabinets, 31 percent; ceramic tile countertops, 30 percent.

"These surveys of buyers' wants and needs gives builders and real estate professionals a good indication of home buying trends," said Carolyn Miller, president of the Silicon Valley Association of REALTORS®. "REALTORS®, too, because they regularly deal with buyers and sellers and visit the inside of homes, would know first-hand what buyers look for in a new home."

Miller said studies show future housing demand is likely to come from echo boomers, the 80 million Americans born between 1982 and 1995. "Studies show this generation relies heavily on mass transit, and is more willing to trade home size for location. That's why it is important to look at developing areas close to transportation."

Miller, who is a Seniors Residential Specialist®, added as population ages, the demand for senior housing is likely to grow, so home preferences of seniors should also be considered. "Seniors want to be independent, active and engaged. We need to plan for senior-friendly communities that would enhance their quality of life," said Miller.


The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.

The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.

Variations of this article have appeared in local area newspapers.

For further information, please contact Rose Meily at SILVAR Public Affairs, email , or phone (408) 200-0109.

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