Survey reveals 3 reasons for buying

The Pacific Southwest Association of Realtors (PSAR) said a recent survey of California real estate agents revealed the top three reasons homebuyers purchased a home in 2020 included tired of renting (25 percent), desire for a larger home (20 percent) and desire for a better location (19 percent). The survey, conducted by the California Association of Realtors, said the top three reasons in 2020 were the same as 2019. For first-time homebuyers, tired of renting was the most popular reason at 54 percent. For repeat homebuyers, 25 percent said their primary reason for buying in 2020 was a desire for a larger home, an increase from 21 percent in 2019. Low mortgage rates means buying a home makes more sense than renting for many first-timers, PSAR said.