SURVEY FINDS 13 PERCENT OF CONSUMERS READY TO BUY A LUXURY HOME
Nationally, 13 percent of surveyed consumers are ready to buy a luxury home and another 26 percent are considering a high-end home purchase, according to the Luxury Homebuyer Survey conducted by Realtor.com.
Percentages of surveyed consumers currently considering a luxury home purchase:
- 13 percent of respondents stated that they are looking to purchase a high-end luxury home;
- 26 percent said they might be considering a high-end luxury home;
- 61 percent revealed they are not looking for a high-end luxury home.
Of the survey respondents who are currently looking for luxury homes, the most popular reasons high-end buyers started their luxury home search:
- 19 percent said recent career success prompted their luxury home search;
- 17 percent entered the market because they recently retired;
- 14 percent got into the market as an investment; and
- 12 percent entered the market to buy their first home.
The biggest challenges home buyers of high-end luxury homes faced during the search included:
- 40 percent cited finding a property that meets their family's needs;
- 20 percent shared their biggest challenge is the limited number of properties offered;
- 11 percent touted ultra-unique properties with limited universal appeal; and
- 8 percent are challenged by gaining access to mortgage loans.
Of the survey respondents who are not in the market for a luxury home:
If respondents had an extra million dollars to invest in a home, they would use it in the following ways:
- 28 percent would sell their current home and purchase a new one;
- 23 percent would keep their current home and purchase either a new or vacation home;
- 14 percent would purchase several homes; and
- 14 percent would buy their first home.
Please see our Marin Market Report 2013: A complete analysis of the real estate market, city by city for Marin County, San Francisco and the wine country.
And our recent report: Marin Market Snapshot - Real Estate Report for Marin MAR 31, 2014
* Whether you are looking to buy your dream home or sell your house, make sure to check our superb service and marketing excellence at Decker Bullock Sotheby's International Realty.Behzad Zandinejad
Decker Bullock Sotheby's International Realty
145 Lomita Dr, Mill Valley, CA.94941