Global Real Estate Leader Uncovers How Recent and Intending Homebuyers are Putting Community at the Center of the Homebuying Process
MADISON, N.J., Sept. 16, 2024 /PRNewswire/ — Century 21 Real Estate LLC, a subsidiary of Anywhere Real Estate Inc. (NYSE: HOUS), unveiled today a commissioned study conducted by leading global market research organization Ipsos, exploring what today’s homebuyers really want, how they feel, and the role community and connection plays in their purchase decisions. The study titled “Connection, Community & Joy: How Recent/Intending Homebuyers are Putting Community at the Center of the Homebuying Process” revealed that finding and building community is a key factor in homebuying and that despite recent uncertainty in the real estate market, recent homebuyers are predominantly feeling positive, with 56% reporting excitement, 47% joy, 44% hope, and 34% pride in the process of finding new homes.1
They are also successfully finding fulfillment through community, with 65% of recent homebuyers reporting a stronger connection to their community after moving. 1
In fact, the idea of community has pushed many homebuyers to broaden their concept of the ‘dream house’ to include living in a ‘dream community’ with 88% of all recent and intending homebuyers agreeing that they’d be willing to compromise on elements of their dream home for a community that is perfect for their household. 1 They also seek to make an impact on their new communities with nearly one-third planning to participate via civic engagement or entrepreneurship. 1
This sentiment is something that Stephen Votino, Broker/CEO of CENTURY 21 Triangle Group, sees a great deal with his own clients, “Community means home. The walls around them and the roof over their heads give security, but how they live is wrapped up in the community that surrounds them. The people, activities, locations¦where we live, work and play bring us connections and a sense of belonging.”
While many Americans surveyed prioritize community connection, this notion is particularly true for Hispanic Americans, with 89% feeling it’s important to have a connection to their local community. In a subset study focused on Hispanic respondents titled, “Pride, Prosperity & Participation: The Community-Focused American Dream for Hispanic Recent/Intending Homebuyers,” Century 21 Real Estate found that compared to all other recent homebuyers, Hispanic Americans report slightly higher levels of pride during the homebuying process at 39%, as a new home signifies the ability to nurture their/their family’s future within a community1. It also noted that for this group, community looks like a mutually supportive agreement where they can make a positive impact and receive help in return.
As the most recognized name in real estate and the most respected in the industry2, the CENTURY 21 ® brand is committed to helping its network of independent agents provide the highest level of service and value to its clients, and this includes serving as community stewards for those towns and cities where buyers are looking to build their lives.
92% of recent/intending homebuyers say it’s important their agent has insight into how the community will grow in the future. 1
“In today’s housing market, the role of the real estate agent is more critical than ever,” said Michael Miedler, president and CEO, Century 21 Real Estate LLC. “It goes far beyond helping clients through the buying process but also having first-hand knowledge of the communities that homeowners are moving into to help them establish a connection and envision the life are looking to build for generations to come. Having these key insights into the minds of today’s consumers allows the CENTURY 21 network to truly drive value for their clients and create an experience that will remain with them long after they hand over the keys to the house.”
To see the full study and learn more about the how the CENTURY 21 brand is elevating client service for homebuyers and sellers, please go to DeFi Daily News.
1Study Source: 2024 Homebuyer Insights Study. The survey results are based on a starting sample of a nationally representative group of n=6,020 U.S. adults ages 18-64. After screening, a total of n= 1,041 recent (purchased a new primary residence in the past two years) or intending (intend to purchase a primary residence in the next twelve months) homebuyers completed the survey (n=500 and n=541, respectively), with samples among Hispanic (n=270), Gen Z (n=279), and Millennial (n=390). The study was conducted by Ipsos, a leading global market research organization, from July 17th, 2024 to July 24th, 2024.
2Study Source: 2023 Ad Tracking Study. The survey results are based on 1,200 online interviews with a national random sample of adults (ages 18+) who are equal decision makers in real estate transactions and active in the real estate market (bought or sold a home within the past two years or, plan to purchase or sell a home within the next two years). Recognition question based on consumer awareness of brand in question. Results are significant at a 90% confidence level, with a margin of error of +/-2.4%. The study was conducted by Kantar Group Limited, a leading global market research organization, from November 17- December 1, 2023.
About Century 21 Real Estate LLCThe approximately 132,000 independent sales professionals in approximately 11,000 offices spanning 79 countries and territories in the CENTURY 21 ® System live their mission every day: to defy mediocrity and deliver extraordinary experiences. By consistently chasing excellence, giving 121% and always elevating, the CENTURY 21 brand is helping its affiliated brokers/agents to be the first choice for real estate consumers and industry professionals worldwide. Century 21 Real Estate has numerous websites to help answer specific consumer needs. They are century21.com, century21.com/global, century21.com/commercial, century21.com/finehomes and century21.com/espanol.
Century 21 Real Estate LLC is a subsidiary of Anywhere Real Estate Inc. (NYSE: HOUS), a global leader in real estate franchising and provider of real estate brokerage, relocation, and settlement services.
Legal Disclaimer
©2024 Century 21 Real Estate LLC. All Rights Reserved. CENTURY 21 ®, the CENTURY 21 Logo and C21 ® are registered service marks owned by Century 21 Real Estate LLC. Century 21 Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.
MEDIA CONTACT:
Erin SiegelCentury 21 Real Estate LLC.erin.siegel@century21.net201.913.1432
Conclusion: A New Era in Homebuying
As the real estate market continues to evolve, it’s clear that the modern homebuyer is looking for more than just a house—they want a community to call home. The study conducted by Century 21 Real Estate LLC sheds light on the importance of community in the homebuying process and how recent and intending homebuyers are prioritizing connections and relationships over traditional elements of a dream home.
With a strong focus on community, homebuyers are willing to compromise on certain features of their ideal home to ensure they are part of a supportive and engaging neighborhood. The desire to make an impact on their community through civic engagement and entrepreneurship showcases a newfound appreciation for the role individuals play in shaping the places they call home.
Hispanic Americans, in particular, place a high value on community connection, viewing their new homes as a source of pride and a foundation for future prosperity. This emphasis on community support and mutual benefit highlights the deep-rooted desire for belonging and contribution within diverse homebuyer demographics.
As the CENTURY 21 brand leads the way in real estate excellence, their commitment to understanding and enhancing the homebuying experience through community-focused initiatives sets a new standard for the industry. By empowering their network of agents to serve as community stewards and providing valuable insights into future community growth, CENTURY 21 is ensuring that every client finds not just a house, but a true sense of belonging and fulfillment.
Looking ahead, the emphasis on community in the homebuying process is set to redefine the way we view real estate. With a focus on connection, impact, and shared experiences, the future of homebuying promises to be more than just a transaction—it’s a journey towards building vibrant, inclusive communities where every individual can thrive.
For more insightful news articles on real estate trends and market updates, visit DeFi Daily News.
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