Consumer Perceptions of Home Value Report Q3 2024

This document is a Special Topics Report from the National Housing Survey (NHS) for Q3 2024, focusing on consumer perceptions of home value. It investigates how the utility and functionality of homes have evolved post-pandemic, particularly as consumers adapt their living spaces for work, schooling, and multigenerational living. The report outlines the methodology used in the NHS, which includes a monthly survey of a representative sample of American adults involved in household financial decisions. The findings indicate that over 40% of consumers feel their homes have become more important due to factors such as location and security. Additionally, more than half report making functional changes to their homes, with a willingness to pay more for features like outdoor spaces and extra rooms. The report also highlights trends in consumer attitudes towards homeownership, emphasizing the balance between financial and lifestyle benefits in homebuying decisions.