Real estate season is underway, and house hunters have one goal in mind: a ranch-style home.
According to a recent survey by realtor.com®, ranches are the most in-demand style of home this year, with 42 percent of homebuyers eyeing a rambler in their search for a home. A distant 28 percent of homebuyers—the second highest share in the survey—are in the market for a contemporary.
Younger homebuyers, however, have a tendency toward a row house or townhouse—a proclivity that wanes with age, when preferences shift to a single-family home.
Type of home aside, three-quarters of homebuyers are on the hunt for a two-bathroom home, and over half are out for three bedrooms, according to the survey.
Homebuyers, especially younger ones with young children, are also prioritizing a big backyard in their search—an attribute that parlays into more privacy, one of the top motivations for home-buying. Another motivation, held primarily by millennial homebuyers and homebuyers aged 35 to 44, is changing family needs, such as having children. Homebuyers aged 45 and older are more motivated by retirement.
A remodeled kitchen is another choice feature for homebuyers, with 80 percent ranking the kitchen as one of their three favorite rooms in their home. A garage, a living room and a master bedroom are also high on homebuyers’ lists.
What are homebuyers not looking for? In the rearview are a guest house, a man cave, a mother-in-law suite and solar panels.
“The insights from our most recent consumer survey provide a glimpse into what buyers are looking at today,” says Sarah Staley, housing expert at realtor.com. “While we often think of dream homes as being big and bold, that’s not what we’re hearing from potential buyers today. These insights can help guide potential sellers in deciding which rooms or features to invest in before listing their homes.”