Welcome!

Adobe Flex Authors: Matthew Lobas, PR.com Newswire, Shelly Palmer, Kevin Benedict

News Feed Item

Despite Economy Most Homeowners Not Downsizing

Potential Buyers Want Efficient Use of Space to Accommodate Life Changes

BLOOMFIELD HILLS, Mich., Dec. 18, 2012 /PRNewswire/ -- Whether a millennial, Gen Xer or baby boomer, homeowners overwhelmingly want their next home to be the same size or larger than their current home, according to a recent PulteGroup Home Index (PGHI) survey by national homebuilder PulteGroup, Inc. (NYSE: PHM).  This latest PGHI survey polled current homeowners on size and feature preferences for their next home. 

"It was interesting to see that 84 percent of homeowners ages 18-59 don't have plans to downsize their next home, even among baby boomers," said Deborah Meyer, senior vice president and chief marketing officer of PulteGroup.  "The PGHI survey results also show that today's buyers are equally focused on smarter use of the spaces within their homes.  We invest significant time and resources in understanding our consumers, and when combined with efficient product design, PulteGroup is able to offer homes that live bigger and can meet consumer preferences."

Further proof that increased house size is on the rise comes from recent U.S. Census Bureau data which indicates the average size of a newly built home was 2,480 square feet in 2011, which is an increase of 3.7 percent from 2010.  This represents the first annual increase since 2007.

Generational Differences  
More than half of millennials, homeowners between the ages of 18-34, would like their next home to be larger than their current home with 68 percent of those respondents saying the larger home would be used to accommodate their growing family.  Meanwhile, showing the diversity of Gen Xers, nearly 40 percent of respondents ages 35-54 want a larger home to accommodate a growing family (37 percent) and need more room and storage space (29 percent).

One of the most interesting survey results came from baby boomer respondents.  Only 28 percent of those ages 55-59 said they want their next home to be smaller, citing retirement and becoming an empty nester as the top reasons for downsizing.

"Baby boomers are a diverse group and have a lot of desires for the home," said Meyer.  "We're hearing this group say they want functionality and smartly-designed homes without wasted space.  This doesn't necessarily translate into smaller homes.  That's why you'll see a variety of floor plans in our Del Webb communities from under 1,000 square feet to more than 3,000 square feet."

Forget Formality, Homeowners Want More Space   
According to the survey, 21 percent of homeowners ages 18-59 rarely use their formal dining room while 17 percent said they rarely use their formal living room.  When asked to rank the most important feature in their next home, nearly half (48 percent) of respondents want larger, open spaces, including master bedrooms, larger rooms and open floor concepts.

When asked to rank their top five "must haves" in their next home, respondents indicated they want:

  • Larger rooms
  • Master bedrooms suites
  • More storage space
  • Patio/outdoor living space
  • Energy efficiency

While men and women ages 18-59 agree on having a master bedroom suite, 62 percent of women said they also would like to have more storage space while 45 percent of men want more technology in the home.  And, as older men (55-59) embark upon retirement, they rank having a study/den in their top five must-have features.

"Many homeowners say they can do without a formal dining and living room, and we've seen this trend for a while," Meyer said.  "House designs today are much more open and flowing as opposed to 'fixed and formal.'  While homeowners are moving away from these formal areas, they want better use of space to create more flex and practical spaces such as, large informal kitchen and dining areas, expanded laundry rooms, and planning centers."

Family Closeness Still a Factor in Choosing a Home's Location   
Homeowners are willing to give up a lot to get what they want in their next home, but across all generations they don't want to give up being close to their family.

When asked what homeowners 18-59 would be willing to give up for the "must haves" in their next home:

  • 52 percent cited being close to public transportation
  • 35 percent said they're willing to give up being close to entertainment and shopping
  • 28 percent said they would give up being near parks and better schools.

However, the last thing homeowners want to give up is being near their family with only 21 percent saying moving away from their family would be an option.

About the Survey  
The PulteGroup Home Index (PGHI) survey polled U.S. adult homeowners to understand home size and feature preferences.  The survey was conducted online by Russell Research from November 16-19, 2012 among 503 homeowners ages 18–59 across the U.S.  At a 95 percent confidence level, the results have a statistical precision of +/- 4.4 percentage points of what they would be if the entire adult population had been polled with complete accuracy.  Figures for gender, age, and geography were weighted where necessary to match their actual proportions in the population.

About PulteGroup   
PulteGroup, Inc. (NYSE: PHM), based in Bloomfield Hills, Mich., is one of America's largest homebuilding companies with operations in approximately 60 markets throughout the country.  Through its brand portfolio that includes Centex, Pulte Homes and Del Webb, the company is one of the industry's most versatile homebuilders able to meet the needs of multiple buyer groups and respond to changing consumer demand. PulteGroup conducts extensive research to provide homebuyers with innovative solutions and new homes designed for the way people actually live today.  As the most awarded homebuilder in customer satisfaction, PulteGroup brands have consistently ranked among top homebuilders in third-party customer satisfaction studies.

For more information about PulteGroup, Inc. and PulteGroup brands, go to pultegroupinc.com; www.pulte.com; www.centex.com; www.delwebb.com.

SOURCE PulteGroup

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the 22nd International CloudEXPO | DXWorldEXPO "Early Bird Registration" is now open. Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)
"We are a well-established player in the application life cycle management market and we also have a very strong version control product," stated Flint Brenton, CEO of CollabNet,, in this SYS-CON.tv interview at 18th Cloud Expo at the Javits Center in New York City, NY.
In his session at @ThingsExpo, Arvind Radhakrishnen discussed how IoT offers new business models in banking and financial services organizations with the capability to revolutionize products, payments, channels, business processes and asset management built on strong architectural foundation. The following topics were covered: How IoT stands to impact various business parameters including customer experience, cost and risk management within BFS organizations.
Here are the Top 20 Twitter Influencers of the month as determined by the Kcore algorithm, in a range of current topics of interest from #IoT to #DeepLearning. To run a real-time search of a given term in our website and see the current top influencers, click on the topic name. Among the top 20 IoT influencers, ThingsEXPO ranked #14 and CloudEXPO ranked #17.
While the focus and objectives of IoT initiatives are many and diverse, they all share a few common attributes, and one of those is the network. Commonly, that network includes the Internet, over which there isn't any real control for performance and availability. Or is there? The current state of the art for Big Data analytics, as applied to network telemetry, offers new opportunities for improving and assuring operational integrity. In his session at @ThingsExpo, Jim Frey, Vice President of S...
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, discussed some of the security challenges of the IoT infrastructure and related how these aspects impact Smart Living. The material was delivered interac...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assista...
The Founder of NostaLab and a member of the Google Health Advisory Board, John is a unique combination of strategic thinker, marketer and entrepreneur. His career was built on the "science of advertising" combining strategy, creativity and marketing for industry-leading results. Combined with his ability to communicate complicated scientific concepts in a way that consumers and scientists alike can appreciate, John is a sought-after speaker for conferences on the forefront of healthcare science,...
In his session at Cloud Expo, Alan Winters, U.S. Head of Business Development at MobiDev, presented a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to maximize project result...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abilit...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessio...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settl...
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...