1. Desire to own a home was a buyer’s primary motivation for wanting to buy (34 percent), followed by job relocation (11 percent) and wanting a larger house (11 percent). Among the least cited reasons to buy were financial security, tax benefits and because of greater choice of homes on the market.
2. Buyers overwhelmingly (62 percent) ranked quality of neighborhood the most important factor in finding the right neighborhood. Quality was defined as level of upkeep and overall appeal. Buyers also ranked convenience to their jobs and affordability of the homes as factors in choosing the right neighborhood.
3. The benefit most buyers say they receive from their real estate agent is guidance about the home buying process. Seventy-nine percent of first-time home buyers said they really benefited from a real estate agent walking them through the process. Other major benefits where agents who pointed out unnoticed features, negotiated better sales contract terms and improved their knowledge of search areas.
4. A little more than half of sellers say they use no incentives to attract buyers to their home. However, 42 percent of sellers reported they did offer some type of incentive, like assistance with closing costs or offering a home warranty policy. The longer a home was on the market, the more likely sellers offered incentives to lure prospective buyers.
