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Home >> Daily Dose >> The Housing Survey Says…
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The Housing Survey Says…

Fannie Mae released its National Housing Survey Thursday, detailing where homebuyers are finding their information on housing, how they pursue their real agents and lenders, how they use mobile devices to shop for mortgages, and how often they want in-person interactions while shopping.

Beginning in June 2010, Fannie Mae coordinated with Penn Schoen Berland (PSB), a market research, political polling, and strategic consulting firm based in the U.S. Since then, PSB has made 1,000 non-automated phone calls a month to Americans 18 and older.

Sixty percent of these calls were made to cell phones in to order to gather an accurate sample representation of the population, while 40 percent were made to landlines. The margin of error for the total sample was ±3.1 percent at the 95 percent confidence level.

According to the survey, 77 percent of homebuyers sought out real estate agents in-person, compared to 69 percent of those who used online sources. Seventy-five percent said they sought out a mortgage lender for housing information and 63 percent pursued friends and family for learn more information.

Homebuyers used 3.4 sources on average when buying a home. Thirty-two percent said they believed mortgage lenders to be the most influential, but not by much compared to real estate agents, who measured at 30 percent.

Sixty-five percent said they had previously used a mobile device to learn more about mortgages and 73 percent they would like to learn more mortgage information via a mobile device in the future.

Methodology:

Fannie Mae recorded a sample size of 1,202 mortgages purchases acquired through Fannie Mae in 2016. 429 individuals of the sample size were considered low and moderate income.

The General Population data was weighted and reflective of the U.S. Census American Community Survey which statistics cover gender, race/ethnicity, income, education, and housing tenure; and the Centers for Disease Control (CDC) National Health Interview Survey (NHIS) phone type statistics.

See the full datasets and methodology of the survey here.

About Author: Dean Terrell

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After earning his B.A. in Writing Arts at Rowan University located in South Jersey, Terrell moved to Texas to pursue a career in publishing and editorials.

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