Report: More home buyers looking for eco-friendly properties

Report: More home buyers looking for eco-friendly properties

Report: More home buyers looking for eco-friendly properties
At its virtual 2021 International Builder’s Show last week, the National Association of Home Builders showcased its green building materials saying it is becoming more important to buyers. According to a study by the NAR of 3,000 home buyers, energy efficiency is one of the primary home buyers prefer new homes.

Among the most highly sought eco-friendly features in new homes, house hunters seek properties with Energy Star-rated appliances and windows. Low energy lighting and other methods of saving money on utility bills also ranked highly for buyers. In fact, most home new home buyers said they were willing to pay $9,292 on average upfront for their new home if it meant they could save $1,000 annually on their utility bill.

Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 2.75 percent and 15-year rates are near 2.25 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.