Industry NewsNews Brief

Homebuyers don’t always do what they say they will

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Today -- perhaps for the first time ever -- here is a quantified sample of what home shoppers say they are going to do, and what they actually did to become a homebuyer.What follows is a small sample based on two major studies comparing what 984 home shoppers said they were going to do to what 8,501 homebuyers actually did. This is such an unusual report that an explanation of the methodology used should prove helpful. In July 2012, the National Association of Realtors mailed a 120-question survey to a random sample of 93,502 recent homebuyers. The respondents had to have purchased a home between July 2011 and June 2012. The tailored survey design method was used to survey the sample, which includes a pre-postcard mailing, the survey, a follow-up letter, and a re-mailing of the survey. Using this method, a total of 8,501 responses were received.  Consumer names and addresses were obtained from Experian, a firm that maintains an extensive database of recent homebuyers derived from ...