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Aviano Market Observation & Generational Home Preferences

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Blog by Doug Ingersoll | February 26th, 2016

Aviano observation; We conducted an analysis of Aviano homes that back to either Pinnacle Peak Rd, 40th St, Deer Valley, or Black Mtn Pkwy. During the past 24 months there were 18 sales. In the past 6 months there were 3 sales, the most recent being 12/28/2015. Of those 18 sold, 8 were single story homes. The sales price per square foot ranged from $171.83 to $195.73, an average of $184.61.

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Speakers from the National Association of Home Builders (NAHB) and Better Homes and Gardens recently presented survey and research about the housing preferences prevalent among millennials, gen X, boomers, and seniors.
The millennial generation is poised to make a significant impact on home design with their strong preferences for energy efficiency and smart home technology. But first, they have to move out of their parents’ homes and into a place of their own. In 2015, about 15% of adults ages 25-34 lived with a parent. That translates into 1.3 million people who would normally be engaged in the housing market, either as buyers or renters, and represents potential for an enormous boon in the market for first time home buyers.
Other trends discussed by the panelists included a surprising revelation that for now, at least, the new-home market continues to be dominated by move-up buyers, rather than first-time buyers. In 2015, the typical new single-family home grew to an average of 2,721 sq. ft., the highest ever.
In terms of house type, buyers from all generations are looking for a detached, single-family home: 65% of all buyers and 68% of millennials expressed that preference. Interestingly though, that number falls somewhat to 55% for seniors, those born before 1945, with evolving needs for a transition to their next phase of life.
Finally, survey responses indicate that home buyers of all ages are most interested in finding homes with practicality and function, including separate laundry rooms, energy-star appliances and windows, exterior lighting, and a patio. What they don’t want are rooms with cork flooring, elevators, pet washing stations, expensive outdoor kitchens and fireplaces, and two-story entryways and family rooms.