Video: Survey Indicates Consumers More Bullish on Homeownership as Spring Arrives
Smart Time to Buy Sentiment Trending Upwards
ATLANTA, March 26 /PRNewswire-FirstCall/ -- Even in the face of skepticism over the nation's economy, more consumers are seeing opportunity in today's housing market, according to a new survey commissioned by Beazer Homes, USA, Inc, (NYSE: BZH), one of the country's top-10 homebuilders. Recognizing that the current market favors buyers, 77 percent of respondents said that with good credit and a down payment, the time is right to buy a home, a 20 percent upswing from a similar January survey.
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"It's reassuring to see an up tick in consumer sentiment toward home ownership as spring arrives," said Ian McCarthy, president and CEO of Beazer Homes. "Consumers recognize a good deal when they see it and they are increasingly more aware that you can get a lot more home in today's market."
Indeed, nearly three of four surveyed (74 percent) agreed that the availability of homes for sale combined with special incentives make this a true "buyer's market." And, more appear poised for action. Sixteen percent of survey respondents report that they plan to purchase a new home as their primary residence in the next 12 months -- a 45 percent increase over the January survey results -- and some 28 percent are currently saving for a down payment.
Seasoned homeowners, in particular, appear upbeat on the opportunities that exist for prospective homebuyers. Nearly three-quarters of experienced buyers surveyed -- those who have purchased one or more homes -- urge renters to buy a home as soon as he or she is financially able to do so. These experienced homeowners also are more likely to recognize the advantages of historically-low interest rates. Sixty-two percent of experienced buyers agree that current mortgage interest rates make this a "favorable time to purchase" a home compared with 44 percent of potential first-time buyers.
"Favorable mortgages are another reason for prospective buyers to take a serious look at a home purchase this spring," said McCarthy. "Low interest rates combined with attractive pricing mean you can get a lot more home for your money." To help simplify the mortgage approval process, Beazer teamed with Countrywide in March 2008 to deliver qualified buyers a wide range of financing options and dedicated customer service.
When it comes to purchasing their next home, seasoned buyers are looking for a better location (28 percent), a bigger home (25 percent) and more modern features (18 percent), according to the survey results. First-time home buyers rank the need for a bigger home (28 percent), investment potential (27 percent) and the desire for a better location (23 percent) as the primary motivations for their first home purchase.
For those who want to buy a new home now, Beazer is adding further enticement by offering special incentives on move-in ready and to-be-built homes in all its communities nationwide.
The survey of 1,006 adults nationwide, between the ages of 25 to 72 with minimum household incomes of $40,000, was conducted by MarketTools on behalf of Beazer Homes, March 10-13, 2008. MOE +/- 3 for all adults.
About Beazer Homes
Beazer Homes USA Inc., headquartered in Atlanta, is one of the country's 10 largest single-family homebuilders with operations in 21 states. Beazer Homes is listed on the New York Stock Exchange under the ticker symbol "BZH."
SOURCE Beazer Homes USA, Inc.
CONTACT: Mandy Brooks, +1-770-829-3755, +1-404-229-5931 (cell), mbrooks@beazer.com, or Leslie Kratcoski, +1-770-829-3764, both of Beazer Homes