Why Americans end up choosing where they will buy a home

Daily Mail​

5 days ago

Man's best friend is no exaggeration. People love their animals so much that they top the checklist when it comes to where they decide to buy a home. Dogs and cats are the most common household pets, and we're spending more time and money on them than ever, reports the National Association of Realtors (NAR).
About one in five recent homebuyers considered their pet when choosing a neighborhood, a number that increases among unmarried couples and single women buyers. Factors such as proximity to a veterinarian and outdoor space are both seriously important considerations for buyers. Pet lovers also purchased homes in areas with larger lots or acreage, and were more interested in convenience to parks and recreation areas, as well as walkability.
'Pet owners are often not willing to sacrifice for the needs of their beloved fur baby,' Dr. Jessica Lautz, Deputy Chief Economist and Vice President of Research at the National Association of Realtors, told DailyMail.com. 'An adopted puppy may start small, but as they grow into a 100-pound dog, enough room to house both the pet and humans takes a more important role.'
She continued: 'Not only can having a pet spur purchasing a home, but when they move, they want a fenced yard and flooring suddenly becomes an important consideration. These home features can be as luxurious as an animal washing station, cat litter closets, and even outdoor features like a water feature or a catio.'
Lautz added that many buyers often ask how far the nearest dog park is. 'For pet owners, home buying transcends not only the home features but expands to the neighborhood,' she said. 'Walkability, the perfect dog park, and proximity to the vet are important to pet owners.'
Throughout the COVID-19 pandemic, Americans adopted pets for companionship and entertainment. This trend has since eased from its recent peak, but Americans are still investing more time and financial resources in their animals. According to data from the American Pet Products Association, total spending on the US pet industry grew from $53.3 billion in 2012 to $152 billion in 2024.
Now, there are officially more households with pets than children in the US, according to the NAR. The share of families with children under the age of 18 living in their home has continued to decline, the US Census reveals. The share of families with children under the age of 18 in 2024 stood at 39 percent, down from 52 percent in 1950.
This is likely due to two reasons. Birth rates, overall, have been declining, and a large share of baby boomer households have already seen their children leave the nest. This trend is also reflected among homebuyers. In 1985, 58 percent of home buyers had children under the age of 18 in their homes. In 2024, just 27 percent of home buyers had a child under the age of 18 in their home, an all-time record low. The number of pets has not only gone up, but the amount of time Americans spend with their animals has also increased significantly over the past 20 years. In 2003, 13.2 percent of Americans spent a significant amount of time with their pets daily, according to the BLS American Time Use Survey. In 2023, that share has grown to 20.4 percent, and 23.8 percent of women. Some 17 percent of single women considered factoring their pet into their neighborhood choice, compared to 12 percent of single men.