Realtor.com Issues Winter Home Buyer Report

Realtor.com Issues Winter Home Buyer Report

Twenty-nine percent of all-cash home buyers planning a purchase in the next four months are downsizers

SAN JOSE, Calif., Nov. 20, 2013 /PRNewswire/ — Today, realtor.com(R), the leader in online real estate, operated by Move, Inc. (NASDAQ: MOVE), released the results of its Winter Home Buyer Report, which ran on realtor.com(R) from Nov. 7-16 and explored sentiments of home buyers looking to buy a house during the winter months.

Biggest Challenges Reported for Buying During Winter Months:

 -- 45 percent of respondents indicated that there is not enough inventory 
      within price range; 

   -- 34 percent shared that there is not enough inventory on the market; 

   -- 29 percent believe that winter weather makes house hunting unpleasant; 

   -- 7 percent indicated that there are too many buyers in the market.

Top reasons consumers are looking to buy a home in winter:

   -- 26 percent of respondents believe that sellers are more motivated to sell 
      and willing to negotiate; 

   -- 24 percent indicated that they think home prices will be better; 

   -- 24 percent revealed that they were unable to buy a house during spring or 
      summer; 

   -- 20 percent shared that they think there will be less competition between 
      buyers.

The current purchase status of those surveyed includes the following:

   -- 28 percent of respondents reported that they are relocation buyers; 

   -- 19 percent shared that they are existing homeowners downsizing to a 
      smaller or less expensive home; 

   -- 19 percent indicated that they are first-time home buyers; 

   -- 15 percent revealed that they are current homeowners moving up to a 
      bigger or more expensive home.

Amount of cash winter home buyers are planning to use for their down payment:

   -- 13 percent of buyers are planning to put down 3.5 percent cash (United 
      States Federal Housing Administration loan); 

   -- 23 percent are planning to put down 10 to 20 percent cash; 

   -- 22 percent are planning to put down 21 to 99 percent cash; 

   -- 19 percent are planning to put down 100 percent cash.

Of those planning to use all cash, the respondents fall into the following categories:

   -- 29 percent of respondents are downsizing to a smaller or less expensive 
      home; 

   -- 26 percent are relocation buyers; 

   -- 11 percent are moving up to a bigger or more expensive home; 

   -- 11 percent are buying a vacation home.

Please contact Lexie Puckett at lexie.puckett@move.com for a full breakdown of survey results.