Week of December 10, 2018

Home buying preferences

Home buying preferences and behaviors in major metropolitan cities

Home buying preferences and behaviors in major metropolitan cities
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Home buying preferences differ across the United States
Seattle Least interested in buying a suburban home
Chicago Most likely to believe saving for a home is important
Washington, D.C. Most willing to make sacrifices to buy a new home
Denver Most likely to define homeownership as a financial investment
Dallas Most interested in buying a single-family home
Boston Most likely to have savings set aside for a home purchase
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Large metropolitan areas often have non-traditional home buying behaviors
San Francisco Least likely to stay on budget
Los Angeles Least likely to move into a starter home
New York City Most likely to expect help from their parents with their home purchase
Atlanta Most likely to use a tool that saves money from their paycheck for a home purchase

This graphic analyzes home buying preferences and behaviors in major metropolitan areas. Home buying behaviors and preferences differ from city to city across the country.

Homebuyers in Dallas are more interested in buying a single-family home, while those in Seattle are least interested in buying a suburban home. These two cities have recently seen a large influx of residents due to increases in job growth. New York City homebuyers are most likely to expect help from their parents with their home purchase, whereas homebuyers in San Francisco are least likely to stay on budget. Both of these behaviors are probably influenced from the high cost of living in those cities.1

1Source data: Bank of America Homebuyer Insights Report
Data date: 2017

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