New Consumer Survey Reveals Current Home Buying Attitudes of the 50-Plus Population
Realogy Holdings Corp. (NYSE: RLGY), the largest full-service residential real estate services company in the United States, announced AARP® Real Estate Benefits from Realogy, the first-ever real estate benefits program designed for the nearly 38 million AARP members, is now live. The new offering allows AARP members to receive $300 to $5,500 when buying or selling a home with a participating agent affiliated with one of Realogy’s trusted residential real estate brands, including Better Homes and Gardens® Real Estate, Century 21®, Coldwell Banker®, Corcoran® and ERA®.
To support the launch of the program, Realogy commissioned a consumer survey in May among 1,106 American adults, examining opinions of the general American population as well as those specific to Americans ages 50 and older. The survey examined the changing home buying attitudes of Americans in the wake of COVID-19. As work, play and education turn to virtual means, the survey findings indicate increasing comfort with virtual tours and home inspections, including among Americans age 50 and older, along with a shift in American aspirations toward suburban living.
According to the survey, 82% of Americans 50 and older say that receiving an average of $1,250[1] through a real estate cash benefits program would be at least somewhat meaningful. Americans 50 and older are more likely than Americans under 50 to say if they were to receive $1,250, the money would be put into an emergency savings fund (29% vs 22%). Additional findings from the consumer survey reveal a generational divide between those under the age of 50 and those 50+. Older Americans prioritize different things in the home, indicate different moving location preferences, and have different plans for how they would use additional monetary funds.
Virtual Tours and Inspections May Ease Home Buying Decision Making
Americans 50+ Prioritize the Home Differently Amidst COVID-19
Survey Methodology
This survey was conducted by G&S Business Communications on behalf of Realogy. The survey was fielded on May 8-9, 2020, with a sample of 1,106 U.S. adults ages 18+.
[1] According to NAR, the median home sale price was $280,600 as of March 2020. The $1,250 represents the amount a home buyer or seller of a median priced home would receive if they participated in the AARP Real Estate Benefits Program from Realogy.
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