SAN JOSE, Calif., July 17, 2014 /PRNewswire/ -- Nationally, 67
percent of consumers plan home renovations within the next six
months, according to the latest realtor.com® Home
Improvement Survey. Realtor.com®, operated by Move, Inc.
(NASDAQ: MOVE), is the leader in providing consumers the most
accurate U.S. residential for-sale listings online*.
More than 1,500 visitors to realtor.com® from
May 19-29, 2014, responded to the
survey. Over two-thirds of respondents plan to renovate an area of
their homes immediately, and 20 percent of those surveyed plan to
list their homes for sale before the end of 2014.
Similar to last year, the most common budget range for home
improvements is between $2,001 and
$5,000. Eighteen percent of those planning to renovate
before the end of the year expect to spend between $10,000 and $20,000. Home owners are most likely
to spend that money remodeling kitchens, bathrooms, backyards or
patios. The top reasons for the remodeling are greater enjoyment of
the home and improved appearance, according to the survey.
"With 32 percent of consumers planning to spend money on
improving the look and feel of their homes, home buyers should
think about purchasing homes that require renovations," said
Barbara O'Connor, Move's chief
marketing officer. "By considering these kinds of homes, buyers
open themselves up to more affordable options and the ability to
renovate their homes to fit their specific needs and tastes."
Most popular reasons for planned home improvements:
- 32% - To improve the aesthetics and/or enjoyment of the
home;
- 22% - In preparation for putting house on the
market;
- 19% - Recently purchased a home needing renovations;
and
- 11% - To improve the value of the home.
Most popular areas of the home to improve:
- 61% - Kitchen;
- 59% - Bathroom(s);
- 33% - Backyard/patio; and
- 32% - Exterior of the home.
Range of home improvement budgets for the next six
months:
- 22% - $2,001 -
$5,000;
- 19% - $5,001 -
$10,000;
- 18% - $10,001 - $20,000;
and
- 14% - $20,001 -
$50,000.
Range of home improvement budgets in 2013:
- 20% - $2,001- $5,000;
- 13% - Up to $500;
- 11% - $501 - $1,000;
and
- 11% - $1,001 -
$2,000.
When do they plan to sell their home?
- 37% - Not any time in the foreseeable future;
- 20% - 0 - 6
months;
- 19% - 1 - 3 years; and
- 10% - 4 - 6 years.
Ages of survey respondents:
- 28% - 45 – 54;
- 26% - 55 – 64;
- 19% - 35 – 44; and
- 13% - 22 – 34.
Geographic location:
- 25% - Southeast;
- 22% - Midwest;
- 22% - Northeast;
- 17% - West; and
- 13% - Southwest.
Income ranges:
- 20% - $100,001 –
$200,000;
- 17% - $70,001 –
$100,000; and
- 13% - $50,001 –
$70,000.
Media Contact: Lexie
Puckett, 805-557-3151, Lexie.Puckett@move.com
*"Most accurate" claim(s) pertain to the accuracy of home
listings and are based on comparison with other national listing
portals, and on the greater frequency of listings updating on
realtor.com®.
About Move, Inc. and realtor.com®
Move,
Inc. (NASDAQ: MOVE), a leading provider of online real estate
services, operates realtor.com®, which connects people
to the essential, accurate information needed to identify their
perfect home and to the REALTORS® whose expertise guides
consumers through buying and selling. As the official website for
the National Association of REALTORS®,
realtor.com® empowers consumers to make smart home
buying, selling and renting decisions by leveraging its direct,
real-time connections with more than 800 multiple listing services
(MLS) via all types of computers, tablets and smart telephones.
Realtor.com® is where home happens. Move's network of
websites provides consumers a wealth of innovative tools and
accurate information including Doorsteps®,
HomeInsightSM, SocialBiosSM, Moving.com™,
SeniorHousingNetSM, homefairSM and
Relocation.com. Move supports real estate agents and brokerages by
providing many services to grow their businesses, including
ListHub™, the nation's leading listing syndicator and centralized
intelligence platform for the real estate industry;
TigerLead®; Top Producer® Systems; and
FiveStreetSM; as well as many free services. Move is
based in the heart of the Silicon Valley — San Jose, CA.
REALTOR® and REALTOR.COM® are
trademarks of the National Association of REALTORS® and
are used with its permission. These and all other trademarks used
in this work are the property of their respective
owners.
Forward-Looking Statements
This news release may
contain forward-looking statements, including information about
management's view of Move's future expectations, plans and
prospects, within the safe harbor provisions under The Private
Securities Litigation Reform Act of 1995. These statements involve
known and unknown risks, uncertainties and other factors, which may
cause the results of Move, its subsidiaries, divisions and concepts
to be materially different from those expressed or implied in such
statements. These risk factors and others are included from time to
time in documents Move files with the Securities and Exchange
Commission, including but not limited to, its Form 10-Ks, Form
10-Qs and Form 8-Ks. Other unknown or unpredictable factors also
could have material adverse effects on Move's future results. The
forward-looking statements included in this press release are made
only as of the date hereof. Move cannot guarantee future results,
levels of activity, performance or achievements. Accordingly, you
should not place undue reliance on these forward-looking
statements. Finally, Move expressly disclaims any intent or
obligation to update any forward-looking statements to reflect
subsequent events or circumstances.
SOURCE realtor.com