Home Buyers Considering Thanksgiving in Their Search
It appears that Thanksgiving is becoming a significant factor for many home buyers this year.
A recent survey conducted by Realtor.com reveals that over half (52%) of U.S. adults believe having space for hosting large gatherings is an important aspect of their home search.
Interestingly, 60% of both Gen Z and Millennials mentioned that the ability to entertain during Thanksgiving influenced their housing choices. In contrast, only 47% of Gen X and 30% of baby boomers prioritized entertainment features when planning vacations.
To assess whether a home is suitable for hosting, size seems to matter a lot. A staggering 90% or more of those surveyed identified a spacious living area and a large kitchen as essential for entertaining guests. On the flip side, just about 12% highlighted the inclusion of high-end kitchen features like double ovens as crucial for hosting.
While having an extra bedroom or bathroom might not be top priorities, nearly half of the respondents indicated they would prefer an additional bedroom, with around 45% expressing a desire for an extra bathroom.
Respondents also noted that the ideal number of bathrooms tends to depend on the size of the household. For example, smaller households often prefer two bathrooms, while larger families might seek out three.
According to Realtor.com, here are the key features that prospective buyers find most appealing for hosting:
- Large kitchen – 92%
- Large family room – 92%
- Large dining room – 86%
- Guest bathroom – 87%
- Large outdoor space – 76%
- Guest bedroom – 73%
- Double oven – 61%
As noted by Joel Varner, a senior economist at Realtor.com, younger generations’ interest in Thanksgiving hosting reflects the enduring strength of housing demand in the U.S. “The fact that younger generations are so interested in hosting Thanksgiving and having a home that meets their needs speaks to the fundamental strength of U.S. housing demand,” Varner mentioned.
Despite a slower housing market this year, Varner emphasizes that younger individuals are eager to have homes of their own. “The issue isn’t a lack of desire for homeownership among young buyers; it’s more about affordability,” he explained. He noted that recent declines in mortgage rates may lead to an uptick in sales, as young Americans are keen on securing their own homes—perhaps even a vacation home.
