Affluent Plan to Acquire More Vacation Homes Than Primary Residences in New Survey; Potential 1.1 Million Existing and Newly Built Home Purchases Could Be 16% of Total Home Sales Over the Next 12 Months

    /24-7PressRelease/ - MIAMI, FL, May 30, 2007 - With the National Association of Realtors reducing their forecast of annual home sales to 864,000 newly built homes and 6,129,000 existing homes, the affluent market represented in the survey by the American Affluence Research Center could account for 49% of newly built home sales, 11% of existing home sales, and almost 16% of total home sales.

Just released, the survey by the American Affluence Research Center shows the affluent remain optimistic about future economic conditions and especially their personal household earnings.

Plans to acquire a vacation home remain relatively strong at 5.9% of the respondents, but below the historic peak of 10.5% in the spring 2005 survey. Plans to acquire a primary residence were reported by 3.9%, the lowest level since the 3.8% reported in the spring 2003 survey.

Potential sales indicated by the American Affluence Research Center survey are 212,800 new homes and 224,000 existing homes for a total of 436,800 primary residences and 212,800 new homes and 448,000 existing homes for a total of 660,800 vacation homes. These estimates indicate a total of 425,600 newly built homes and 672,000 existing homes to be acquired by the 11.2 million households in the wealthiest 10% of U.S. households.

Highlights of the national survey of 398 men and women in the wealthiest 10% of American households can be found on the American Affluence Research Center website, http://www.affluenceresearch.org The survey participants have an average income of $324,000 and an average net worth of $3.3 million.

The complete 27-page report containing 24 tables may be ordered by calling Ron Kurtz at 305-933-4887 or at [email protected]

The AARC provides marketing research, mailing lists, and consulting services that focus on the values, lifestyles, attitudes, and purchasing behavior of the wealthiest 10% of Americans.

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