Bank of America Homebuyer Insights Report

The latest Bank of America Homebuyer Insights Report explores the attitudes, preferences and behaviors of the modern homebuyer. The fall report finds that 93 percent of American homeowners say owning a home makes them happier than renting did, and 83 percent wouldn’t go back to renting. Most credit their happiness to an emotional attachment to their home and believe that owning a home has changed them for the better.

Other insights from the 2019 Fall Bank of America Homebuyer Insights Report include:

  • Seventy-six percent pursued new interests after buying a home, including: landscaping/gardening (47 percent), cooking/baking/grilling (45 percent), and interior design/remodeling (33 percent).

  • More than two-thirds of current homeowners say their relationships with family and loved ones have changed since purchasing a home, and 78 percent are satisfied with the quality of their social life.

  • Counterintuitively, the financial well-being of homeowners is significantly higher than that of prospective buyers (77 percent vs. 42 percent).

  • Fifty-eight percent of homeowners believe a home is a place where you make memories, compared to 42 percent who believe it is a financial investment.

To learn more about the Bank of America Homebuyer Insights Report, click here.

 

Bank of America Consumer Lending
Bank of America’s Consumer Lending unit includes First Mortgage, Home Equity, Consumer Vehicle Lending, and Residential Real Estate Lending for our Global Wealth and Investment Management business units. Each business is focused on delivering a distinctive and consistent client experience through competitive product offerings, quality loan production, choice of multiple connection and delivery methods, and operational excellence based on a client’s unique attributes and relationship with us.

About the Bank of America Homebuyer Insights Report
Concentrix Analytics conducted an online survey on behalf of Bank of America between January 30 and February 21, 2019. Concentrix surveyed a national sample of 1,919 adults ages 18+ who currently own a home or plan to in the future. In addition, the national sample was supplemented by another 782 respondents to reach the following groups: Generation Z, single females, single males, renters and homeowners who have paid off their mortgage. The margin of error for the national quota is +/- 2.2 percent, and the margin of error for the oversampled markets is approximately +/- 3.5 percent, with each reported at a 95 percent confidence level.

 

News Releases and Additional Information

 

National Press Releases

 

National Research Materials

 

Regional Press Releases

Oct. 10, 2018 – Bank of America Homebuyer Insights Report Regional Press Releases:

  - Austin   - Nashville
  - Boston   - Phoenix
  - Charlotte   - San Francisco
  - Dallas-Fort Worth

 

Apr. 18, 2018 – Bank of America Homebuyer Insights Report Regional Press Releases:

  - Austin   - Nashville
  - Boston   - Phoenix
  - Charlotte   - San Francisco
  - Dallas-Fort Worth    

 

For More Information

For more information about the Bank of America Homebuyer Insights Report, please contact Kris Yamamoto, Bank of America, 1.805.526.1910.