Trulia's American Dream Survey - Summer 2012
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- 1.American Dream SurveySummer 2012
2. Optimism Outpaces Reality Interest in supersized homes (3,200+ square feet) up to 11%, from 6% in 2011 78% of renters plan to buy someday 58% think prices will return to peak within 10 years 3. Early Signs of Recovery Fuel OptimismKey optimism drivers*Where the recovery stands nowLower foreclosures and Down 24% from worst.delinquencies Increasingly localized.More sales Up 10% vs. year ago. Up 23% vs. worst.Lower vacancy rates Owner-occupied: down to 2.2%, same as early 2006. Rental: down to 8.8%, lowest since early 2002.* Key optimism drivers based on Trulia 2011 Q4 survey 4. Prices Have Turned the Corner Asking pricesstabilized inSept, rose inFeb Quarterlygrowth in 86 of100 largestmetros 5. Supersized Homes Make Comeback 6. Inventory Cant Fulfill Big Dreams Ideal Home Size Current Inventory MixSquare footage (survey) (Trulia listings) 800-1,400 8%29% 1,401-2,00029%29% 2,001-2,60025%17% 2,601-3,20016%10% More than 3,20011%12% 7. First House Wont be Dream Home First-Time HomeownerAmenityRenter Dreams RealitiesEn-suite master bathroom 62% 26%Walk-in closet 56% 35%Gourmet kitchen50% 9%Outdoor deck 50% 28%Wood floors47% 35%Pre-wired entertainment 31% 7%systemPool 24% 10%Hot tub22% 6% 8. Most Renters Want to Buy LaterWhen will you buy? 2011 Survey 2012 surveyWithin 6 months4%3%7 to 12 months 7%8%13 to 24 months 11% 16%More than 2 years 50% 51%Never 28% 22% 9. Return to Bubble Prices? Cmon! 61% expect local prices to rise in next 12 months Totally reasonable 58% expect local prices to return to peak in next 10 years Healthy markets, sure. Hardest-hit markets? Dont bet on it. 10. Still Far From Normal Each month we comparekey metrics to the worstand normal New Construction Starts Existing Home Sales Foreclosures & delinquencies Now 37% back to normal 11. Recovery: Slow, With Risk of Bumps At thisrate, normalcomes inearly 2016 Risks fromEurope, budget, foreclosures 12. Thank You!More questions? Email firstname.lastname@example.org 13. MethodologyThe May-June 2012 survey was conducted online within the United States by Harris Interactivevia its QuickQuery omnibus product on behalf of Trulia between May 22 -24 among 2,205 U.S.adults, of whom 1,402 were homeowners and 731 were renters and June 4-6, 2012 among 2,230U.S. adults (aged 18 and over), of whom 1,486 were homeowners and 693 were renters. The August 2011 survey was conducted online within the United States by Harris Interactive viaits QuickQuery omnibus product on behalf of Trulia between Aug 30-Sept 1, 2011 among 2,207adults (aged 18 and over), of whom 1,392 were homeowners and 758 were renters.The January 2012 survey was conducted online within the United States by Harris Interactive viaits Quick Query omnibus product on behalf of Trulia between January 30- February 2, 2012among 2,236 adults (aged 18 and over), of whom 1,486 were homeowners and 693 were renters.Figures for age, sex, race/ethnicity, education, region and household income were weightedwhere necessary to bring them into line with their actual proportions in the population.Propensity score weighting was used to adjust for respondents propensity to be online. Theseonline surveys are not based on a probability sample and therefore no estimate of theoreticalsampling error can be calculated. For complete survey methodologies, including weightingvariables, click here.