Pekin Real Estate-Primary Reasons Buyers Bought Homes in 2011

The primary reason for purchasing a home was the desire to own a home—more than one-quarter of home buyers cited this reason in 2011; while this remains the most cited reason among all types of buyers, it has decreased in prominence from 2010. The primary reason to purchase a home among repeat buyers is often because of life changes: the desire for a larger home, a job-relocation or move, desire to be closer to family and friends, or a change in a family situation. Among ages of home buyers there are also shifts from the younger ages where buyers want to own a home of their own, to older ages where a change is taking place so they need to upgrade, downgrade or perhaps move cities for a jobrelated relocation. The primary reason for the timing of the home purchase remains that it was just the right time to buy and the buyer felt ready to buy a home. Affordability is the second most common reason among all buyers; however, affordability has decreased in prominence in both repeat and first-time buyers. Affordability as a reason for the timing of the home purchase also changed based on age. Younger buyers placed a higher priority on affordability, while older buyers were more likely to purchase a home because they had to make the purchase when they did

.If you are looking to buy or sell your next home in the Pekin Real Estate market, contact Brad Barnard, REALTOR® with Kaebel REALTOR®. Brad's experience, knowledge and professionalism, make him the top choice in the Pekin Real Estate market. Brad can be reached directly via mobile or text at 309-241-0313 or you may visit www.livinginpekin.com.

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