CENTURY 21® STUDY REVEALS GENERATIONAL ATTITUDES TOWARD HOMEBUYING
May 11, 2006 (PRLEAP.COM) Business NewsPARSIPPANY, N.J. - The CENTURY 21® Homebuyer Survey released today reveals that baby boomers were driven to purchase their first home based on family reasons while Generation X and Y buyers are more likely to buy or have bought a home as a "safe investment." In addition, Generation X and Y buyers tend to take longer to buy their first home as compared to baby boomers. Today's Generation Y buyers are also purchasing first homes at a younger age than their Generation X and baby boomer counterparts.
These and other insights are highlighted in a national online survey of 1,514 U.S. homebuyers that was equally distributed between baby boomers (born between 1946-1964), Generation X (born between 1965-1978) and Generation Y (born between 1979-1994) consumers. The study was conducted by International Communications Research (ICR) on behalf of Century 21 Real Estate LLC, the franchisor of the world's largest residential real estate sales organization. The intent of the study was to understand and compare the experiences of the first-home purchase among members of three different generations.
"The CENTURY 21 System is prepared to address the real estate needs of consumers throughout the many stages of homeownership, starting with their first home purchase," said Tom Kunz, president and CEO, Century 21 Real Estate LLC. "As the most recognized name in residential real estate, it is our responsibility to understand and deliver on the unique needs and additional care many first-time homebuyers require, whatever age they are."
The CENTURY 21 Homebuyer Survey asked the three generational groups questions to discern some of the factors that influence the first-time homebuying experience.
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About Century 21 Real Estate LLC
Century 21 Real Estate LLC (www.century21.com) is the franchisor of the world's largest residential real estate sales organization, providing comprehensive training, management, administrative and marketing support for the CENTURY 21 System. The System is comprised of more than 7,800 independently owned and operated franchised broker offices in 42 countries and territories worldwide. Century 21 Real Estate LLC is a subsidiary of Cendant Corporation (NYSE: CD). For more information on Cendant's Real Estate Services Division as well as expert commentary on emerging trends in the real estate industry, visit the Cendant Media Resource Center at www.cendant.com/media.
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