As housing inventory rests at a 12-year low, according to a recent article from Bloomberg, and home prices continue to steadily increase, experts are saying that the real estate industry is currently in the midst of a seller's market. And, with spring approaching, it's likely that more people will begin putting their properties on the market. With this in mind, people hoping to sell a home in the coming months may want to consider some of the insights revealed in the National Association of Home Buyers' (NAHB) latest survey, "What Home Buyers Really Want."
The survey shows that, first and foremost, prospective buyers want energy efficiency. In fact, nine out of ten individuals polled said they would rather spend more money on a home that has green technology features, with the knowledge that they would save money on their monthly utility bills. Another big selling point is organization and storage such as a laundry room, a garage or a pantry.
When asked what they don't want, shower stalls with no tubs, high-density communities and elevators topped the list.
This data is not only useful to current homeowners hoping to make their properties more marketable, but to builders, too.
"This survey is a great resource for building professionals, as it provides an inside look at the things home buyers really want or don't want in their homes," said NAHB's assistant vice president for survey research, Rose Quint, in the company's press release. "With the housing market beginning to recover, and more consumers in the position to purchase a home, it is more important than ever for builders to be armed with this information."
As the market continues to recover, more Americans may decide that it's a good time to invest in their own property. To prepare for a potential influx of borrowers, it's important for lenders to ensure that individuals can stay on top of their monthly payments, which they can do by investing in and using loan management software.