National Arbor Day: Trees and the Home Purchase
Reprinted from National Association of REALTORS® Economist’s Outlook Blog/April 24, 2015
Posted in Economist Commentaries, by Brandi Snowden, Research Survey Analyst on April 24, 2015
National Arbor Day is celebrated on April 24th, and is a time to celebrate the importance of trees. For home buyers who recognize their significance, finding a home with features such as being located on a wooded lot, having many trees, or being close to parks is important. Using the 2013 Profile of Buyers’ Home Features Preferences, 2014 Profile of Home Buyers and Sellers, and the 2015 Home Buyer and Seller Generational Trends Report we can examine which features recent home buyers considered important.
Eighteen percent of repeat buyers and 25 percent of buyers purchasing a new home said that being on a wooded lot or one with many trees was very important.
Twenty percent of home searchers in the South and 30 percent of home searchers in rural areas thought that having a wooded lot or many trees was very important.
Twenty percent of single males and 18 percent of married couples thought that finding a home on a wooded lot or with many trees as very important during their home search.
Among home searchers, 20 percent looking for a duplex, apartment, or condo with 2-4 units, and 18 percent searching for a detached single-family home thought that it was important to find a home on a wooded lot or with many trees.
Twenty-three percent of recent buyers felt that convenience to parks or recreational facilities was an influencing factor for their neighborhood choice.
Recent buyers living in a suburb or subdivision (28 percent) and unmarried couples (27 percent) felt that the convenience to parks or recreational facilities was an influencing factor for their neighborhood choice.
Looking generationally, convenience to parks and recreational facilities had the most influence on recent buyers aged 34 and younger at 28 percent, and recent buyers aged 35 to 49 at 24 percent.
Visit the Arbor Day Foundation for more information on getting involved this Arbor Day.