Barbara Novitsky, ABR,ASP,CRIS,CRS, e-PRO,GREEN,GRI,SFR, SRES,REALTOR
The National Association of REALTORS® (NAR) hired Belden, Russonello and Stewart to conduct a special survey from February 15-24, 2011. 2,071 adult Americans participated in the survey.
Americans prefer to live in walkable, mixed-use neighborhoods. The Community Preference Survey published by the NAR found that 56 percent of respondents preferred smart growth neighborhoods to those requiring a greater drive between home, work and recreation activities.
Additionally, many home buyers are now seeking walkable and transit-accessible communities. Walkable communities are defined as communities where local businesses, restaurants, and shops are within normal walking distance from residential homes. Walkability has become an important new consideration for Realtors as they seek to satisfy buyer needs.
77 percent of survey participants indicated that they would seek neighborhoods with plentiful sidewalks and pedestrian-friendly qualities. 50 percent also stated that they want improvements to existing transportation over initiatives to build new roads and developments.
One of the most interesting trends revealed by the survey was that many home buyers are willing to sacrifice home size (square footage) for less driving. Surely this will be something to watch as fuel prices continue higher. 80 percent of respondents preferred to live in a single-family, detached home providing it did not require a longer commute. Interestingly, if commute time were maintained at or less than 20 minutes, 59 percent of those surveyed would select a smaller home.
88 percent of those surveyed placed a greater emphasis on the quality of neighborhoods than home size. 77 percent stated a desire for communities with high-quality schools.
In real estate, trends are vital to understand.
For more in-depth information, read the survey at: Community Preference Survey
