Survey: Consumers more bullish on homeownership as spring arrives

ATLANTA – March 26, 2008 – Recognizing that the current market favors buyers, 77 percent of respondents in a MarketTools survey said that the time is right to buy a home – a 20 percent increase compared to a similar January survey. Beazer Homes, USA, Inc. commissioned the survey.

Three of four surveyed (74 percent) agreed that the availability of homes for sale combined with special incentives make this a true “buyer’s market,” and more appeared ready for action. Sixteen percent of survey respondents report that they plan to purchase a home as their primary residence within the next 12 months – a 45 percent increase over the January survey results – and 28 percent are currently saving for a downpayment.

Nearly three-quarters of experienced buyers surveyed – those who have purchased one or more homes – urge renters to buy a home as soon as they are financially able to do so. Sixty-two percent of experienced buyers agree that current mortgage interest rates make this a “favorable time to purchase” a home compared with 44 percent of potential first-time buyers. “Favorable mortgages are another reason for prospective buyers to take a serious look at a home purchase this spring,” says Ian McCarthy, president and CEO of Beazer Homes.

“Low interest rates combined with attractive pricing means you can get a lot more home for your money.”

What homebuyers want
When it comes to purchasing their next home, seasoned buyers are looking for a better location (28 percent), a bigger home (25 percent) and more modern features (18 percent), according to the survey results.

First-time home buyers rank the need for a bigger home (28 percent), investment potential (27 percent) and the desire for a better location (23 percent) as the primary motivations for their first home purchase.The survey of 1,006 adults nationwide, between the ages of 25 to 72 with minimum household incomes of $40,000, was conducted by MarketTools on behalf of Beazer Homes, March 10-13, 2008. The margin of error is plus or minus 3 points for all adults.