Trulia commisions Harris to gauge consumer sentiment about purchasing a foreclosure

Harris Interactive ® recently conducted a comprehensive survey on our behalf showing that while more than half of all U.S. adults would consider purchasing a foreclosed home, over two-thirds also feel that there are several negative aspects of such purchases.

The survey was conducted over a three-day period in late April, found that, while 69 percent of U.S. adults feel that there are negative aspects to purchasing a foreclosed home, more than half would be at least somewhat likely to consider purchasing a foreclosed home. Of survey respondents mentioning negative aspects of purchasing a foreclosed home, 69 percent cited hidden costs; 35 percent considered the prospect risky; and 33 percent mentioned the possibility of the home losing value.

The results of the Harris Interactive ® survey provide nuanced insight into the types of consumers more likely to consider the purchase of a foreclosed home, including:

• Single/never married adults (60 percent) are more likely to be at least somewhat likely to consider purchasing a foreclosure versus married (50 percent) or divorced/separated/widowed adults (50 percent).

• Male respondents are more likely to be at least somewhat likely to consider purchasing a foreclosed home compared with female respondents (57 percent versus 51 percent).

• Younger adults (18-34) are more than twice as likely to be at least somewhat likely to consider purchasing a foreclosed home than U.S. adults ages 55+ (69 percent versus 32 percent).

• Respondents with children in the household are more likely to be at least somewhat likely to consider purchasing a foreclosed home versus those who have no children in their household (66 percent versus 50 percent).

• About three out of every four U.S. adults aged 18-34 feel that there are negative aspects of purchasing a foreclosed home (74 percent) versus two-thirds (66 percent) of U.S. adults aged 35 and older.

• 20 percent of U.S. adults said that having a personal connection with someone who lost their home to foreclosure is a negative aspect of purchasing a foreclosed home.

For the full snapshot of Harris Survey Findings, click here. You can read the full press release and learn more about the methodology here. Check out tips from Trulia’s online community of foreclosure experts here.