Buyers Want Smart Growth
NAR recently released its 2013 Community Preference Survey, which revealed that walkable, mixed-use communities are the most desired community choice among prospective home buyers. According to the survey, 60 percent of buyers favor neighborhoods with a mix of houses, stores and other businesses that are easy to walk to rather than neighborhoods that require more driving between home, work and recreation.
The survey seems to suggest a growing momentum away from sprawling suburban environments towards more mixed-use and pedestrian friendly communities. The survey also indicated consumers place great value on living in their preferred neighborhood and are willing to compromise on the size of a property to buy there. In fact, while 52 percent of respondents preferred a singlefamily detached house with a large yard, 78 percent placed greater importance on the neighborhood than the size of the home and yard.
- "Tell Me More!"
Talk to a Realtor® about community trends in your neighborhood and preferences they see among buyers. Do the results of this survey reflect the desires of their clients? Talk to home buyers about what they look for in a neighborhood.