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NAR Study: Americans Prefer Mixed-Use Neighborhoods

NationalMortgageProfessional.com
Nov 01, 2013

Choosing a community is one of the most important factors for consumers as they consider buying home, and research by the National Association of Realtors (NAR) has consistently revealed that Americans prefer walkable, mixed-use neighborhoods and shorter commutes. According to NAR’s 2013 Community Preference Survey, 60 percent of respondents favor a neighborhood with a mix of houses and stores and other businesses that are easy to walk to, rather than neighborhoods that require more driving between home, work and recreation. The survey findings indicate that while the size of the property does matter to consumers, they are willing to compromise size for a preferred neighborhood and less commuting. For example, although 52 percent of those surveyed prefer a single-family detached house with a large yard, 78 percent responded that the neighborhood is more important to them than the size of the house. Fifty-seven percent would forego a home with a larger yard if it meant a shorter commute to work, and 55 percent of respondents were willing to forego a home with larger yard if it meant they could live within walking distance of schools, stores and restaurants as opposed to having larger yard and needing to drive to get to schools, stores and restaurants. “Realtors build communities and care about improving those communities through smart growth initiatives. Although there is no one-size-fits-all approach, smart growth is typically characterized by mixed-use development, higher densities, and pedestrian friendly streets that accommodate a wide diversity of transportation modes,” said NAR President Gary Thomas, broker-owner of Evergreen Realty, in Villa Park, Calif. “Growth patterns, economic development and quality-of-life issues are inextricably linked to the success of communities and residents.” When asked to identify their ideal community, the most popular choice was a suburban neighborhood with a mix of houses, shops and businesses. The least popular was a suburban neighborhood with just houses. As for transportation concerns, 41 percent said improving public transportation would be the best solution, while 29 percent would prefer the development of communities where people do not have to drive long distances to work or shop, and 20 percent would choose building new roads.
Published
Nov 01, 2013
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