It’s statistics time! Over the past week, there have been several interesting studies and surveys that have useful data for those in the real estate industry or for marketers who are targeting homeowners (and potential homeowners). In this week’s edition of Interesting Statistics, we will cover 10 pieces of data about the real estate market and the consumer trends of homeowners.
According to an annual homeowner satisfaction survey, 85 percent of those polled for the 2018 national survey were satisfied with their experience living in a condominium or homeowner association. (Source: Community Associations Institute)
- Nine out of ten (90 percent) people surveyed for the 2018 Homeowner Satisfaction Survey said their association’s rules protect and enhance their property values (62 percent) or have a neutral effect (28 percent). (Source: Community Associations Institute)
- A large majority (84 percent) of homeowners in a recent survey expressed that neighbors elected to the governing board of homeowner associations “absolutely” or “for the most part” serve the best interests of their communities. (Source: Community Associations Institute)
- In recent a GfK survey of more than 1,000 consumers, more than half (52 percent) of said they prefer to install their own Smart Home products, a sharp increase from 43 percent in 2015. (Source: GfK)
- The growing desire for self sufficiency among homeowners is increasing a desires for Smart Home products with interconnectivity. According to GfK, almost two-thirds (62 percent) of those surveyed in 2018 said they expect devices from different vendors to be able to communicate with each other, with the highest levels among the 25-to-34 (68 percent) and 35-to-44 (72 percent) age groups.(Source: GfK)
A new industry research report Parks Associates shows nearly 75 percent of the consumers planning to buy a smart home device consider it important for their purchase to work with other products in their home. (Source: Parks Associates)
- According to the Interoperability and the Internet of Things report, 22-23 percent of U.S. broadband households that own smart home devices use Amazon Echo, Google Home, and Works with Nest. (Source: Parks Associates)
- According to the Q1 2018 U.S. Home Flipping Report from a national property database, 48,457 U.S. single family homes and condos were flipped in the first quarter of 2018, down 4 percent from the previous quarter and down 3 percent from a year ago to a two-year low. (Source: ATTOM Data Solutions)
- Of the 48,457 U.S. homes flipped in Q1 2018, 15.9 percent were sold by the flipper to a buyer using a loan backed by the Federal Housing Administration (FHA), down from 16.1 percent in the previous quarter and down from 19.2 percent a year ago to the lowest level since Q1 2008. (Source: ATTOM Data Solutions)
- Birth rates are dropping most in counties with the fastest-appreciating home values with the trend being most pronounced in pricey California markets. According to a Zillow Analysis, an extra 10 percentage-point rise in home values is associated with an extra 1.5 percentage-point drop in birth rates for 25-to-29 year old women. (Source: Zillow)
As is usually the case, each of these facts is part of a larger study that is worth checking out if you found the statistics in this article useful. Though the real estate market is a fast-changing industry, there are other articles on this site about housing markets, and real estate that are also worth a look.
And for more statistics that are helpful, interesting and fun, check out the other articles in the Interesting Statistics series.