When home buyers are shopping around for a new home, are they looking for sustainable features? Yes, according to a recent report from the National Association of Realtors that identifies the who, what, when, where, and why of home buyer and seller behavior, and breaks downs the trends by each respondents respective generation.
Metrics identifying which generation comprises the largest share of home buyers, what size home is most common for each generation, and how much traction multi-generational homes are gaining in the housing market can be seen in Builder's coverage. The metrics from the report that we're most interested in are, of course, the environmentally friendly features that home buyers consider "very important" when looking to purchase a home.
So what characteristics top buyers' list of criteria for a new home? And how do these preferences differ by generation?
Methodology of the 2014 Home Buyer and Seller Generational Trends Report: A 122 question survey was mailed out, using a random sample weighted to be representative of sales on a geographic basis to 148,011 recent home buyers. The recent home buyers had to have purchased a home between July of 2012 and June of 2013. A total of 8,767 responses were received. After accounting for undeliverable questionnaires, the survey had an adjusted response rate of 6.1 percent.