Better Homes and Gardens Real Estate Survey Reveals That Ethnic Groups in America Hold High Hopes for Next Generation of

Better Homes and Gardens Real Estate Survey Reveals That Ethnic Groups in 
America Hold High Hopes for Next Generation of Homeowners 
Americans Have Similar Desires, but Differ in Consideration of Family
Ties When Home Buying 
MADISON, NJ -- (Marketwired) -- 06/04/13 --   As a melting pot,
America is shaped by the beliefs, customs and cultures of its diverse
population. To that end, do individuals from different backgrounds
hold the same vision and attitude when it comes to setting forth and
achieving the American Dream of homeownership? Better Homes and
Gardens(R) Real Estate set out to find the answer to that question,
and today, released national survey findings from the three largest
population groups within the U.S., with an equal distribution among
400 Caucasians, 400 African Americans and 400 Hispanic Americans ages
18 and older. The Better Homes and Gardens Real Estate survey results
indicate that Americans from these three ethnic groups are far more
alike than different when it comes to many perceptions and behaviors
surrounding the home buying process. However, when it comes to
considering family ties and origins when buying a home, there are key
differences among these ethnicities.  
"America has a proud heritage of diversity, and the notion that our
client base will continue to change and evolve should be apparent to
everyone in the real estate industry," said Sherry Chris, president
and CEO of Better Homes and Gardens Real Estate LLC. "It's important
that we understand all that we can about our consumers to best serve
them and that includes understanding them not only from an cultural
standpoint, but with regard for their individual values, aspirations
and needs." 
Key findings from the Better Homes and Gardens Real Estate survey
include: 
We've Got High Hopes: All groups surveyed are optimistic about the
next generation of homeowners, and furthermore, a majority believe
their children or future children will have a home of their own
before the age they did (Hispanic 78%; African American 74%;
Caucasian 56%) and homeowners believe that their children's homes
will be the same size or bigger than theirs (Hispanic 90%; African
American 83%; Caucasian 73%). Each group surveyed views homeownership
as an overarching lifelong goal. In fact, homeownership is considered
to be the biggest indicator of status by all groups: African
Americans (78%), Hispanics (78%) and Caucasians (65%). 
Each of the groups surveyed believe that a home is not simply an
indicator of success; it is a long-term investment and a wise one at
that. More than any other group, Hispanics are planning ahead for
homeownership and prioritizing this dream over retirement. More than
half of the Hispanics (52%) surveyed, who do not currently own their
own home, say they are focused on saving for a down payment as
compared to 46 percent of African Americans and 44 percent of
Caucasians who do not own their own home.  
"The White Picket Fence" Prevails: Of course, cities have their
unique allure, but when it comes down to determining where to live
for the long haul, the majority of individuals from every ethnicity
surveyed lean largely toward the suburbs. Research indicates that
suburban homes are very much in demand among today's house hunters.
Among those surveyed, 59 percent of African Americans, 55 percent of
Caucasians and 50 percent of Hispanic Americans would select the
suburbs as the preferred location for their ideal home.  
Love Thy Neighbor(hood): When asked to choose between living in their
dream home in a neighborhood they are not fond of, or residing in
their dream locale in a home they don't love, each of the three
groups was split almost equally down the middle. A slight majority of
respondents (56% Caucasian; 50% African American; 50% Hispanic) said
they would rather live in the neighborhood of their dreams, even if
they are not head over heels for their house.  
Home Is Where You Started: Many homeowners want to live close to
where they grew up when purchasing their dream house. But, how close
is "close?" For a majority of Hispanics (56%) and African Americans
(53%), this means staying within the same state one grew up in.
Caucasians (56%), however, prefer to remain in the same broad region
of the country where they grew up. In fact, 1 in 3 Hispanics prefer
that their ideal home is located within the town they grew up in,
while only 20 percent of Caucasians share the same sentiment.  
We're Going to Need a Bigger House: While it's apparent that living
near family is important, there appears to be a significant amount of
cohabitation among family members. Findings indicate the
multi-generational American home is proliferating. In fact, it is
likely to occur in all ethnic groups surveyed. Results show that 63
percent of Hispanics and 59 percent of African Americans will likely
have their parents, grandparents, or other extended family members
living with them at some point. Only 43 percent of Caucasians share
these sentiments.  
House hunting has also been impacted by the increasing likelihood of
multi-generational family units. According to survey results, 89
percent of African Americans, 89 percent of Hispanics and 88 percent
of Caucasians who anticipate such living arrangements would look for
features that could accommodate additional family members such as
separate "in-law" quarters.  
For more information on Better Homes and Gardens Real Estate, visit:
www.bhgrealestate.com. 
About the Survey
 The Better Homes and Gardens Real Estate Survey was
conducted by Wakefield Research among 1,200 Americans with an equal
distribution of 400 nationally represented Caucasian adults, 400
nationally represented Hispanic American adults, and 400 nationally
represented African-American adults, ages 18 and older, between
December 7 and December 26, 2012, using an email invitation and an
online survey. Quotas were set to ensure reliable and accurate
representation of the Caucasian, Hispanic American and
African-American populations, ages 18 and older. 
Results of any sample are subject to sampling variation. The
magnitude of the variation is measurable and is affected by the
number of interviews and the level of the percentages expressing the
results. For the interviews conducted in this particular study, the
chances are 95 in 100 that a survey result does not vary, plus or
minus, by more than 4.9 percentage points from the result that would
be obtained if interviews had been conducted with all persons in the
universe represented by the sample. 
About Better Homes and Gardens Real Estate LLC
 Better Homes and
Gardens Real Estate LLC is a dynamic real estate brand that offers a
full range of services to brokers, sales associates and home buyers
and sellers. Using innovative technology, sophisticated business
systems and the broad appeal of a lifestyle brand, Better Homes and
Gardens Real Estate LLC embodies the future of the real estate
industry while remaining grounded in the tradition of home. Better
Homes and Gardens Real Estate LLC is a subsidiary of Realogy Holdings
Corp. (NYSE: RLGY), a global leader in real estate franchising and
provider of real estate brokerage, relocation and settlement
services. The growing Better Homes and Gardens Real Estate network
includes approximately 8,300 sales associates and approximately 250
offices serving homebuyers and sellers in Canada and across the U.S.:
Alabama, Arizona, California, Florida, Georgia, Idaho, Illinois,
Indiana, Kentucky, Kansas, Pennsylvania, Maine, Massachusetts,
Minnesota, Missouri, Nevada, New Hampshire, New Jersey, New York,
Ohio, Oregon, South Carolina, Texas, Vermont, Virginia and
Washington. 
 Better Homes and Gardens(R) is a registered trademark
of Meredith Corporation licensed to Better Homes and Gardens Real
Estate LLC and used with permission. An Equal Opportunity Company.
Equal Housing Opportunity. Each Better Homes and Gardens Real Estate
Franchise is independently owned and operated. For more information,
please visit www.BHGRealEstate.com.  
Media Contacts:
Elliot Schimel
Kwittken & Company
(646) 747-0142
eschimel@kwitco.com 
Katelyn Castellano
Better Homes and Gardens Real Estate LLC
(973) 407-6849
Katelyn.Castellano@BHGRealEstate.com 
 
 
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