Report: Kids Have Big Say in Real Estate

Buyers with children put more weight on the neighborhood, local schools, and size of homes when shopping for the right property, according to the 2017 Moving With Kids report, produced by the National Association of REALTORS®.

The neighborhood, in particular, has a big influence on home buyers with children under the age of 18. Forty-nine percent of buyers who have children consider the neighborhood based on the quality of the school district, and 43 percent choose a neighborhood by the convenience to schools.

Sellers with kids also have unique needs. One notable need is that they usually have to sell their homes faster. Twenty-six percent of owners with children under the age of 18 sold their home urgently compared to 14 percent of owners with no children at home. The main reasons for selling a home for sellers with children were that the home was too small or they faced a job relocation or a change in their family situation.

Source: “2017 Moving With Kids,” National Association of REALTORS® (Aug. 21, 2017)

1 in 5 Buyers Make Offer Without Seeing Home

Twenty-one percent of more than 2,100 home buyers recently surveyed by real estate brokerage Redfin say they made an offer on a house without seeing it in person.

“That’s a testament to the proliferation of online listings, mobile real estate apps, and cool things like 3D scans that take you inside and through every room of a home for sale online,” according to a blog on SurveyMonkey, a surveying firm that conducted the survey on behalf of Redfin.

Millennials were the age group to be most likely to make an offer without seeing the house in person first at 30 percent. What’s more, 53 percent of buyers who paid more than $750,000 for their home made offers without seeing the house first.

Source: Redfin and “4 Real Estate Trends That Show a Changing Industry,” SurveyMonkey Blog (Sept. 15, 2015)