Real Trends recently reported on a survey of consumer buying habits, commissioned by the National Association of Home Builders. The results were not surprising:
"Survey respondents rated the home’s price as the most important factor affecting
their decision to buy a house, with 80 percent citing its significance.
Following price, they rated as important the potential for the new home to
appreciate in value (71%), the prospect of selling their current home at a fair
price (70%), the level of mortgage interest rates (69%) and personal life
changes (such as a new job or addition to the family) (60%).
"When further
asked about the influence of the news media on their decisions of when to buy a
home, only 19 percent of the respondents said it played an important role; 23
percent indicated that it had some importance on their decision; and seven
percent said it played a minor role. A full 48 percent said it had no influence
whatsoever."
So, I guess most of my blog readers are in that 19%?
3 comments
Very interesting market research. I guess people are going to do whatever they want to do regardless of media influences. Let’s me know how much weight the media really doesn’t have.
We just don’t see a house as an investment. It has to be affordable and comfortable for us to make it our home, for example.
But …really, just wanted to say Happy Thanksgiving, Diane!
More about that 19%…
http://realtytimes.com/rtapages/20061128_interference.htm