Get to Know Today’s New Construction Home Buyer

The Zillow® Group Consumer Housing Trends Report 2017 is chock-full of valuable insights about how buyers, sellers, owners and renters make home-related decisions. The comprehensive survey includes data about where and how they search for, compare and select new construction homes.

Use these 10 key takeaways from the report to help shape your conversations with new construction home buyers. Or, download our Consumer Insights for Builders booklet.

1. More than half of today’s buyers (52 percent) consider new construction, and 27 percent consider a lot or land without an existing home.

2. Millennials (18-37 years old) are most likely to consider new construction (60 percent) and make up more than a third (36 percent) of all new construction buyers.

3. New construction buyers are more likely to have a higher education: 55 percent have a college degree or more, compared to 43 percent of existing home buyers.

4. Their median income is $87,500.

5. Three out of four (75 percent) are married or living with a partner, while 44 percent have children under the age of 18 living at home.

6. One third (33 percent) own pets.

7. They are more likely to be a repeat home buyer (67 percent) than a first-time buyer (33 percent).

8. Top priorities for new construction buyers are taking a private tour of the home (74 percent), viewing a floor plan (74 percent) and having access to the home’s inspection report (71 percent).

9. A single family, detached home is their hands-down choice (86 percent).

10. Most (70 percent) bought a home in a larger planned community.

For more information about new construction buyers, view or download the entire Zillow Group Report on Consumer Housing Trends 2017 here.

And keep checking the New Construction Resource Center for more new home shopper trends and data!