Sotheby’s International Realty broker Jenna Stauffer discusses U.S. mortgage rates in “The Claman Countdown.”
A growing number of potential homebuyers are taking Thanksgiving into account as they search for their next home.
According to a recent survey from Realtor.com, more than half (52%) of American adults said finding a home where they can host the big party played a role in their search.
Sixty percent of Generation Z and 60% of Millennials said Thanksgiving entertainment played a role in their housing decisions. That compares with the 47% of Generation X and 30% of Baby Boomers who took entertainment into account during the holidays.
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One way to determine if the house was suitable for hosting was the size of the living room. The majority of respondents, over 90%, said a large family room and a large kitchen are the most important factors in welcoming guests. Only a fraction of respondents, about 12%, say chef-inspired amenities like double ovens are a “must-have” for hosting.
Sixty percent of Generation Z and 60% of Millennials said Thanksgiving entertainment played a role in their housing decisions. (iStock)
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Additional bedrooms and bathrooms are less important, although almost half of respondents indicate they would prefer a guest room. About 45% indicate they would prefer an extra bathroom.
A growing number of potential homebuyers are taking Thanksgiving into account as they search for their next home. (Tierney L. Cross/Bloomberg via Getty Images)
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Respondents also noted that the ideal number of bathrooms scales with household size. One and two-person households prefer two bathrooms, while households with three or more people prefer three bathrooms.
Top features that increase a buyer’s willingness to host according to Realtor.com:
- Large kitchen – 92%
- Large family room – 92%
- Large dining room – 86%
- Guest bathroom – 87%
- Large outdoor space – 76%
- Guest room – 73%
- Double oven – 61%
Respondents to Realtor.com’s survey said the ideal number of bathrooms scales with household size. (Eric Thayer/Bloomberg/Getty Images)
Home sales have been slow this year, but Berner said younger generations are still eager to own a home.
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“It’s affordability that’s keeping these younger buyers out of the market, not apathy toward traditional homeownership,” he said. “As affordability improves, as it has begun with declining mortgage rates in recent months, you can expect sales to improve as well, as young Americans really want a home of their own that they can take vacations in.”
