Survey Characterizes Concerns of Home Buyers

The National Association of Home Builders (NAHB) reports the Census Bureau’s biennial survey “Characteristics of Home Buyers” which covers 6.8 million home sales in 2009 and 2010, reveals price and proximity to work were the overriding concerns for first time home buyers. “The majority of trade-up buyers (36%),” says NAHB’s Chief Economist David Crowe, “cited the design of the home as the primary reason for selecting a particular house, with 28 percent citing the looks and design of the community as the reason for choosing a specific neighborhood.” Sales of new homes during the period covered were low due to the housing bubble, leading to 90 percent of reported sales being existing homes. MHProNews has learned energy costs in new homes are ten percent lower than in existing homes, and average maintenance costs came in 56 percent lower in new homes.

(Photo credit: apartmentquest)

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