M Report – Tory Barringer
The latest Home Index Survey (PGHI) from PulteGroup shows current homeowners might accelerate their timeline to “move up.”
With home values on the rise, 43 percent of move-up buyers in PulteGroup’s survey indicated they plan to purchase a new home within the next five years. In addition, 76 percent of respondents believe they can sell their current home within the next two years for a price that would allow them to move. “One of the most intriguing findings from this PGHI survey is the optimism and the willingness of homeowners to ‘pull the trigger’ on buying a new home, even if they may not have an immediate need to move,” said Deborah Wahl, SVP and chief marketing officer for PulteGroup. According to survey responses, today’s move-up buyers are largely motivated by economic and financial changes. The biggest share of respondents—38 percent—said the biggest trigger for them to move would be if they could sell their home for a higher price point.