Real Estate Trends: National Love Your Pet Day
Real Estate Trends: National Love Your Pet Day
Who’s really making the purchasing decisions?
Feb 2022
In honor of National Love Your Pet Day, we’re dedicating this post to our furry, scaly, feathered friends. We love pets so much in America that 80% of homeowners own an animal friend! Zillow notes that currently 46% of homeowners have at least one dog and 34% have at least one cat. In fact, pet ownership is one of the perks of homeownership. Compared to homeowners, only 37% of renters are likely to own a pet. Rent restrictions do limit pet ownership in some places, but the gap between homeowners that own pets and renters that own pets is upwards of 20%!
Finding a place for Fido and Fluffy has become increasingly important in the home buying decision. A study by the National Association of Realtors found that 43% of households would move to accommodate their pet and 18% of Realtors surveyed say they have clients who have moved solely for their animal. And in a survey of 1,600 people, 66% of renters moved from rentership to ownership specifically to get a pet or improve living for a current pet.
Key features buyers are looking in a pet-friendly home? Fenced yards, larger yards, expanded mudrooms with storage, and vinyl plank, hardwood, and tile floors. Pets are also influencing the neighborhoods and communities potential homeowners will consider. Proximity to pet amenities like dog parks, walking trails, veterinary services, pet stores, doggy daycare and grooming services are a priority. Click here to see if any of our properties are right for you…and Spot.
The furry baby boom has only been accelerated as the pandemic rages on with millions of Americans becoming pet owners now that remote work and flexible schedules are becoming the norm. And Millennials, the largest living generation, are a generation of pet parents with 76% of households aged 20-38 owning at least one pet. Trends indicate that pet ownership will continue to grow. And why not? These fuzzy, furry, feathered friends help us lead happier, healthier lives.
Like most Americans, we love pets at GROWTH, too. Check out our very own pet family here!