Survey: Move-Up Buyers Nearly Ready to Take Action

The latest Home Index Survey (PGHI) from ""PulteGroup"":http://pultegroupinc.com/ shows current homeowners might accelerate their timeline to ""move up.""

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With home values on the rise, 43 percent of move-up buyers in PulteGroup's survey indicated they plan to purchase a new home within the next five years. In addition, 76 percent of respondents believe they can sell their current home within the next two years for a price that would allow them to move.

""One of the most intriguing findings from this PGHI survey is the optimism and the willingness of homeowners to 'pull the trigger' on buying a new home, even if they may not have an immediate need to move,"" said Deborah Wahl, SVP and chief marketing officer for PulteGroup.

According to survey responses, today's move-up buyers are largely motivated by economic and financial changes. The biggest share of respondents--38 percent--said the biggest trigger for them to move would be if they could sell their home for a higher price point.

Smaller groups said they would be most motivated by major life changes. Nearly a quarter--24 percent--would move in order to relocate for a job, 17 percent would move if they received a job promotion or a new job, and only 11 percent said the biggest trigger for them would be the arrival of a new baby or other family members moving in.

PulteGroup also found that the Millenial generation appears to taking the most action and has responded to the housing and financial markets faster than other age groups. Out of those who already own a home, 38 percent said they plan to purchase a new home in the next two years, while 58 percent plan to purchase within the next five years--a sign that they may soon drive the move-up market.

""The move-up buyer represents a significant opportunity for Pulte Homes,"" Wahl said. ""It's critical that we continue to understand this buyer segment and the economic and life-stage factors that spur them to purchase a new home.""

The PGHI survey polled 516 adult homeowners with children under the age of 18 and an annual income greater than $50,000.