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Homebuyer Buzz: Buyers Searching Online for Homes in the Suburbs

September 29, 2020

Homebuyer Buzz: Buyers Searching Online for Homes in the Suburbs

Homebuyer Buzz is our monthly round-up of news stories related to the latest in homebuying trends — from the evolving wants of homebuyers to design news and more.   

The pandemic continues to influence homebuying and design trends as shoppers search online for homes in the suburbs and paint companies release soothing “colors of the year” that are reminiscent of nature. We’re also seeing consumers grow in their spending of smart home technologies.  

Home shoppers searching for homes in the suburbs. In August, home shoppers spent more time looking at homes in the suburbs than in cities, according to realtor.com. Interest in moves to the suburbs existed pre-COVID, but experts say the pandemic has helped to accelerate it as people look for more space and affordability. [Realtor.com] 

Healthy homebuilding is the new normal. In a survey by Taylor Morrison, one-third of home shoppers said they wanted a new home over a resale for better health and wellness features. Must haves for buyers include air quality, antibacterial surfaces and clean water. The survey showed these features were particularly popular among millennial and Gen X shoppers. [D Magazine] 

Sherwin-Williams’ 2021 color of the year is a dark bronzeUrbane bronze, to be precise. The company chose the color for it’s warm and sophisticated look and how it evokes a sense of calm and stability. Sherwin-Williams describes the shade as a “new neutral,” perfectly complemented with wood finishes and stone accents. [Builder] 

In fact, most “colors of the year” are warm and comforting for 2021COVID-19 has many paint companies promoting soothing colors for 2021, including PPG which has heralded a trio of calming colors and Behr, which released a color palette featuring shades that evoke “elevated comfort.” PPG’s trio includes a sandy shade, a ginger orange and a light aqua. [Realtor.com] 

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Florida dominates top five cities for retirement. WalletHub released its latest Best & Worst Places to Retire report, with Florida featured in four of the five top spots. Orlando took the top spot with Tampa, Miami and Fort Lauderdale coming in respectively at numbers two, four and five. Making the third spot was Charleston, South Carolina. The worst places to retire include Newark, New Jersey, Bridgeport, Connecticut and San Bernardino, California. [CNBC] 

Consumer spending on smart home tech will grow in 2020. Disruption from the pandemic won’t stop the growth of spending on smart home technologies this year. ABI Research released a new report predicting that the global market will grow by four percent in 2020 compared to 2019. Expected revenue is $85 billion. [Smart Energy International] 

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