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Owners.com recently surveyed 1,000 potential homebuyers ahead of the spring real estate season, and the results of the survey, the Owners.com Consumer Real Estate Index, found that consumers are confident in the economy and their own understanding of the homebuying process, suggesting they are becoming more self-reliant with the homebuying experience.
The Owners.com survey found 80 percent of homebuyers are confident that the 2016 homebuying environment will be as good as or better than it was five years ago, and 92 percent say that mortgage interest rates are “somewhat to very important” to their decision on when to buy. Sixty-nine percent of respondents gave themselves an “A” or “B” grade when it comes to understanding the homebuying process, suggesting confidence in their ability to self-navigate the real estate market.
“Consumers are heading into the spring home buying season with a positive outlook, according to our findings,” said Steve Udelson, president of Owners.com. “Homebuyers also indicate a willingness to go online and handle more elements of the real estate process themselves in order to save time and money—a trend we expect to continue this year and beyond.”
According to the survey responses consumers are now more inclined than ever to use technology to facilitate key parts of the real estate transaction. Seventy-three percent of survey respondents would use online sites to search for properties, more than half (53 percent) are inclined to book home tours online, 43 percent would consider online financing products and 27 percent would make a purchase offer online.
When thinking of luxury must-haves in their new home, 29 percent of the respondents dream of a fully-equipped smart kitchen, with 19 percent wanting a spa bathroom. Respondents cited upgrading to a better home (33 percent), wanting to invest in real estate (25 percent) or relocating to a new area (24 percent) as the reason for their interest in a home purchase this year.
The Owners.com Consumer Real Estate Index was conducted online among a random sample of 1,000 consumers who are likely homebuyers in 2016.