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Sep 12, 2024 PropStream

6 Shifting Buyer Preferences to Understand as an Agent


Disclaimer: This article is for educational purposes only. We recommend doing your due diligence before pursuing any leads as a real estate agent.


  Key takeaways:

  • Understanding shifting buyer preferences is essential for agents who want to stay ahead of the competition.
  • Certain economic and cultural changes are shifting homebuying preferences. For example, with the rise of remote work, home offices have become a priority for many buyers.
  • Other practical concerns—such as reducing energy costs or accommodating multigenerational families—are also impacting the types of properties today’s buyers want.

To stay ahead of the competition as a real estate agent, it’s critical to keep up with the latest buyer trends. But that can be tough to do in today’s fast-paced market as new technology emerges, the economy fluctuates, and Millennials take over as the largest homebuying demographic.

Staying up to date on shifting buyer preferences takes research. But if you don’t have the time to read dozens of real estate publications and analyze homebuying statistics, don’t worry. You’ll find some of today’s top buyer preferences right here in this article.

1. Home Offices and Workplace Proximity

During the pandemic, remote work became the norm in many industries. As a result, homebuyers flocked to rural areas, looking for properties with home offices and more yard space. Now that companies are requiring workers to return to the office, proximity to workplaces and transportation is increasingly important again.

However, home offices are still desirable, especially among younger and wealthier buyers. According to a 2024 study, nearly 80% of buyers want a home with at least one home office.

2. Sustainability and Eco-Friendly Homes

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Whether to save on energy costs or reduce their carbon footprint, today’s homebuyers are increasingly environmentally conscious. In fact, almost half (45%) of realtors say their clients consider sustainability when looking for a home.

Some of the most common eco-friendly preferences include:

    • Energy-efficient features: Around 90% of buyers want a home with energy-efficient features. This includes solar panels (homes with them sell 4.1% better), energy-saving appliances, and tankless water heaters.
    • Smart technology: In 2024, an estimated 422 million homeowners globally have used smart home technologies such as smart lighting, thermostats, door locks, doorbells, and other appliances.
    • Sustainable building materials: Don’t be surprised if more buyer clients ask about proper insulation, energy-saving windows, recycled glass, or reclaimed wood.

3. Community and Lifestyle Amenities

Modern buyers aren’t just looking for a place to live—they pay close attention to quality of life and overall satisfaction. As a result, features like walkable neighborhoods and proximity to reputable schools are growing in importance.

Buyers are also interested in communities that have or are close to amenities like parks, pools, sports complexes, libraries, shopping areas, and entertainment. Having safe spaces to spend time with loved ones or join community activities is top of mind for many buyers, especially those with children.

4. Space for Intergenerational Living

Less than a decade ago, most U.S. households consisted of a nuclear family (a married couple or at least one parent with kids). However, that trend may be changing.

With today’s high home prices and rental rates, it’s more common for families across multiple generations to live together. For example, homeowners may have adult children, aging relatives, or even extended family members move in with them. In fact, nearly half (45%) of young adults aged 18 to 29 still live with their parents.

For real estate agents, this means buyer clients are looking for homes with more space and a higher bedroom count. According to a recent NAR report, 14% of buyers looked for multigenerational homes in 2023—a trend that may continue upward.

5. Pet-Friendly Features

The pet-buying boom of the pandemic has altered homebuying preferences—at least for the foreseeable future. Recent research found that 78% of buyers have at least one pet, 80% of whom said their pet influenced their home-purchasing decision.

Some of the most sought-after pet-friendly features include:

        • Fenced-in backyards
        • Dog parks nearby
        • Pet-proof flooring (or little carpeting)
        • Smart pet doors
        • Built-in pet spaces, such as beds, feeding spaces, or bathing stations

6. Mixed-Use Developments

As demand for proximity to amenities grows, so do mixed-use developments, which are neighborhoods or multifamily buildings that contain space for retail, entertainment, or cultural purposes.

For example, it’s not uncommon to see buildings with apartment units on the upper floors and offices or boutique shops on the lower floors. You might also see new neighborhoods and apartment buildings built within shopping centers.

Modern buyers are drawn to homes or condos that allow them to grocery shop, dine at restaurants, get their hair done, or visit the dentist without even leaving their neighborhood.

Start Finding Leads Today—PropStream It!

If you’re looking for an easy way to pinpoint properties that will be popular with today’s buyers, try PropStream. Our Quick Lists and other search filters take the guesswork out of tracking down leads and finding property deals.

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Published by PropStream September 12, 2024
PropStream