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American Dream Survey
                Summer 2012
Optimism Outpaces Reality

 • Interest in supersized homes (3,200+ square feet)
   up to 11%, from 6% in 2011

 • 78% of renters plan to buy someday

 • 58% think prices will return to peak within 10 years
Early Signs of Recovery Fuel Optimism


Key optimism drivers*              Where the recovery stands now

Lower foreclosures and             • Down 24% from worst.
delinquencies                      • Increasingly localized.

More sales                         • Up 10% vs. year ago.
                                   • Up 23% vs. worst.

Lower vacancy rates                • Owner-occupied: down to
                                     2.2%, same as early 2006.
                                   • Rental: down to 8.8%, lowest since
                                     early 2002.


* “Key optimism drivers” based on Trulia 2011 Q4 survey
Prices Have Turned the Corner

• Asking prices
  stabilized in
  Sept, rose in
  Feb

• Quarterly
  growth in 86 of
  100 largest
  metros
Supersized Homes Make Comeback
Inventory Can’t Fulfill Big Dreams


                   Ideal Home Size   Current Inventory Mix
Square footage
                       (survey)         (Trulia listings)

 800-1,400               8%                  29%

 1,401-2,000            29%                  29%

 2,001-2,600            25%                  17%

 2,601-3,200            16%                  10%

 More than 3,200        11%                  12%
First House Won’t be Dream Home
                                           First-Time Homeowner
          Amenity          Renter Dreams
                                                   Realities
En-suite master bathroom       62%                 26%

Walk-in closet                 56%                 35%

Gourmet kitchen                50%                 9%

Outdoor deck                   50%                 28%

Wood floors                    47%                 35%
Pre-wired entertainment
                               31%                 7%
system
Pool                           24%                 10%
Hot tub                        22%                 6%
Most Renters Want to Buy… Later



When will you buy?   2011 Survey   2012 survey

Within 6 months          4%            3%

7 to 12 months           7%            8%

13 to 24 months         11%           16%

More than 2 years       50%           51%

Never                   28%           22%
Return to Bubble Prices? C’mon!

 • 61% expect local prices to rise in next 12 months
    – Totally reasonable


 • 58% expect local prices to return to peak in next 10
   years
    – Healthy markets, sure.
    – Hardest-hit markets? Don’t bet on it.
Still Far From Normal

• Each month we compare
  key metrics to the worst
  and normal
   – New Construction Starts
   – Existing Home Sales
   – Foreclosures &
     delinquencies


• Now 37% back to normal
Recovery: Slow, With Risk of Bumps

• At this
  rate, normal
  comes in
  early 2016

• Risks from
  Europe, budg
  et, foreclosur
  es
Thank You!

More questions? Email pr@trulia.com
Methodology

The May-June 2012 survey was conducted online within the United States by Harris Interactive
via its QuickQuery omnibus product on behalf of Trulia between May 22 -24 among 2,205 U.S.
adults, of whom 1,402 were homeowners and 731 were renters and June 4-6, 2012 among 2,230
U.S. adults (aged 18 and over), of whom 1,486 were homeowners and 693 were renters.

 The August 2011 survey was conducted online within the United States by Harris Interactive via
its QuickQuery omnibus product on behalf of Trulia between Aug 30-Sept 1, 2011 among 2,207
adults (aged 18 and over), of whom 1,392 were homeowners and 758 were renters.

The January 2012 survey was conducted online within the United States by Harris Interactive via
its Quick Query omnibus product on behalf of Trulia between January 30- February 2, 2012
among 2,236 adults (aged 18 and over), of whom 1,486 were homeowners and 693 were renters.

Figures for age, sex, race/ethnicity, education, region and household income were weighted
where necessary to bring them into line with their actual proportions in the population.
Propensity score weighting was used to adjust for respondents’ propensity to be online. These
online surveys are not based on a probability sample and therefore no estimate of theoretical
sampling error can be calculated. For complete survey methodologies, including weighting
variables, click here.

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Trulia's American Dream Survey - Summer 2012

  • 1. American Dream Survey Summer 2012
  • 2. Optimism Outpaces Reality • Interest in supersized homes (3,200+ square feet) up to 11%, from 6% in 2011 • 78% of renters plan to buy someday • 58% think prices will return to peak within 10 years
  • 3. Early Signs of Recovery Fuel Optimism Key optimism drivers* Where the recovery stands now Lower foreclosures and • Down 24% from worst. delinquencies • Increasingly localized. More sales • Up 10% vs. year ago. • Up 23% vs. worst. Lower vacancy rates • Owner-occupied: down to 2.2%, same as early 2006. • Rental: down to 8.8%, lowest since early 2002. * “Key optimism drivers” based on Trulia 2011 Q4 survey
  • 4. Prices Have Turned the Corner • Asking prices stabilized in Sept, rose in Feb • Quarterly growth in 86 of 100 largest metros
  • 6. Inventory Can’t Fulfill Big Dreams Ideal Home Size Current Inventory Mix Square footage (survey) (Trulia listings) 800-1,400 8% 29% 1,401-2,000 29% 29% 2,001-2,600 25% 17% 2,601-3,200 16% 10% More than 3,200 11% 12%
  • 7. First House Won’t be Dream Home First-Time Homeowner Amenity Renter Dreams Realities En-suite master bathroom 62% 26% Walk-in closet 56% 35% Gourmet kitchen 50% 9% Outdoor deck 50% 28% Wood floors 47% 35% Pre-wired entertainment 31% 7% system Pool 24% 10% Hot tub 22% 6%
  • 8. Most Renters Want to Buy… Later When will you buy? 2011 Survey 2012 survey Within 6 months 4% 3% 7 to 12 months 7% 8% 13 to 24 months 11% 16% More than 2 years 50% 51% Never 28% 22%
  • 9. Return to Bubble Prices? C’mon! • 61% expect local prices to rise in next 12 months – Totally reasonable • 58% expect local prices to return to peak in next 10 years – Healthy markets, sure. – Hardest-hit markets? Don’t bet on it.
  • 10. Still Far From Normal • Each month we compare key metrics to the worst and normal – New Construction Starts – Existing Home Sales – Foreclosures & delinquencies • Now 37% back to normal
  • 11. Recovery: Slow, With Risk of Bumps • At this rate, normal comes in early 2016 • Risks from Europe, budg et, foreclosur es
  • 12. Thank You! More questions? Email pr@trulia.com
  • 13. Methodology The May-June 2012 survey was conducted online within the United States by Harris Interactive via its QuickQuery omnibus product on behalf of Trulia between May 22 -24 among 2,205 U.S. adults, of whom 1,402 were homeowners and 731 were renters and June 4-6, 2012 among 2,230 U.S. adults (aged 18 and over), of whom 1,486 were homeowners and 693 were renters. The August 2011 survey was conducted online within the United States by Harris Interactive via its QuickQuery omnibus product on behalf of Trulia between Aug 30-Sept 1, 2011 among 2,207 adults (aged 18 and over), of whom 1,392 were homeowners and 758 were renters. The January 2012 survey was conducted online within the United States by Harris Interactive via its Quick Query omnibus product on behalf of Trulia between January 30- February 2, 2012 among 2,236 adults (aged 18 and over), of whom 1,486 were homeowners and 693 were renters. Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was used to adjust for respondents’ propensity to be online. These online surveys are not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodologies, including weighting variables, click here.

Editor's Notes

  1. First I want to talk today about getting in front of clients in 2012