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Craft is what we are expected to do; art is the unexpected use of our craft.

Craft is what we are expected to do; art is the unexpected use of our craft. . Ed Catmull President of Walt Disney Animation Studios. Understanding today’s home buyer. How to use this information with your buyers and sellers. Survey Methodology. 1,400 telephone interviews

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Craft is what we are expected to do; art is the unexpected use of our craft.

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  1. Craft is what we are expected to do; art is the unexpected use of our craft. Ed CatmullPresident of Walt Disney Animation Studios

  2. Understanding today’s home buyer How to use this information with your buyers and sellers

  3. Survey Methodology 1,400 telephone interviews conducted in February 2014 home buyers who purchased Aug. 2013 – Jan. 2014

  4. WHO IS the 2014 buyer? Demographics

  5. Average Age: 48 Q. What is your age?

  6. Buyer Age Continues Rising Q. What is your age?

  7. Younger Buyers Continue to Decline Q. What is your age?

  8. Housing Affordability Index

  9. Housing Affordability (State) Peak vs. Current

  10. Minimum Annual Income Required Peak vs. Current By Counties, 2014 Q1 vs. 2012 Q1 SERIES: Housing Affordability Index of Existing Detached Homes SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

  11. Percent of First-time Buyers Continues Decline Q. Was this your first home purchase?

  12. Minorities are the Majority Q. How would you describe your ethnic background?

  13. Majority of Buyers are Married

  14. Married Buyers on the Decline Q. What is your marital status?

  15. More than Half of Buyers have College Degrees Q. What is the highest level of education you have completed?

  16. The Buying experience

  17. Purchase Price Q. What was the price of the home you purchased?

  18. Purchase/Listing Prices Nearly Equal Q. What was the price of the home you purchased?

  19. Nearly 6/10 Buyers Were Previous Home Owners Q. What was the living arrangement immediately before your recent home purchase?

  20. More Buyers Owned Previous Residence Q. What was the living arrangement immediately before your recent home purchase?

  21. Buyers Spending Less Time than Last Year Considering Purchase Before Contacting Agent Average Weeks Q. How many weeks did you consider buying a home before contacting a realestate agent? (Asked if agent was used)

  22. Buyers Spending Less Time than Last Year Investigating Homes & Neighborhoods Before Contacting Agent Average Weeks Q. How many weeks did you spend investigating homes and neighborhoods before contacting a real estate agent? (Asked if agent was used)

  23. The Home Search is Getting Lengthier Q. Once you found your agent, about how many weeks did you spend looking for ahome with your agent? (Asked if agent was used)

  24. All Buyers Viewed at Least 10 Homes Before Buying Q. How many different homes did you preview and visit with your agent prior tomaking a purchase?

  25. Increase in Homes Viewed Reflects Inventory Improvement Median Q. How many different homes did you preview and visit with your agent prior tomaking a purchase?

  26. 91% of Buyers Made Offers on Other Homes Q. How many offers did you make on other homes?

  27. Buyers Made More Offers on Other Homes Q. How many offers did you make on other homes?

  28. Price Decreases are Main Reason for Buying Q. What were your main reasons for buying your home?

  29. Buyers Didn’t Purchase Sooner Because… Q. Why didn’t you buy a home sooner?

  30. Nearly Half of Buyers Settled on Best Available Home Q. Are you satisfied with the home you purchased or do you feel like you selected the best option given the limited supply of homes?

  31. More Buyers Settled on Best Available Home Q. Are you satisfied with the home you purchased or do you feel like you selected the best option given the limited supply of homes?

  32. Most Buyers Found Home through Agent Q. How did you find the home you purchased?

  33. More Buyers are Finding Homes Online Q. How did you find the home you purchased?

  34. Most Homes Were Listed on MLS Q. Was the home you purchased listed on a multiple listing service?

  35. Buyers Plan to Keep Homes Longer Q. How long do you plan to keep the property?

  36. Buyers Optimistic About Long Term Direction of Home Prices Q Do you think home prices in the neighborhood where you purchased will go up, down, or stay flat … in one year, in five years?

  37. More Buyers Believe Prices Will Rise Q Do you think home prices in the neighborhood where you purchased will go up in one year, in five years?

  38. Internet Use

  39. More Buyers Using Mobile Q. Did you use a mobile device in the home buying process?

  40. 91% of Buyers Used Mobile Device in Buying Process Q. How did you use your mobile device in the home buying process? N = 1269

  41. Zillow is Most Useful App Q. What was the most useful app that you used during the home buying process? N = 1269

  42. Realtor.com & Zillow are Most Useful Websites in Buying Process Brokerage Agent Q. What was the single most useful website that you visited during your home buying process?

  43. Realtor.com & Zillow Most Useful Websites Q. What was the single most useful website that you visited during your home buying process?

  44. Most Buyers Found Home on Realtor.com or Zillow Q. On which website did you find your home?

  45. Realtor.com & Zillow Helped Most Buyers Find Homes Q. On which website did you find your home?

  46. Social Media Use Continues Rising Q. Did you use social media (such as Facebook, Twitter, YouTube, etc.) in your home buying process?

  47. 77% of Buyers Used Social Media in Buying Process Q. Which social media websites did you use during your home buying process? N = 1073

  48. Social Media Used for Buying Tips & Neighborhood Info Q. How did you use social media (such as Facebook, Twitter, YouTube, etc.) in your home buying process? N = 1073

  49. 92% of Buyers are Receptive to Receiving Information via Social Media Q. How receptive would you be to receiving information about the home buying process directly from your real estate agent via social media? (Scale: 1-5)

  50. Fewer Buyers Google their Agent Q. Did you Google your agent…?

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