Plenty of people own pets, and no one thinks buying a pet is odd, even if they aren’t pet owners themselves. So the recent increase in pet purchases may have flown under the radar, but it’s there and it’s significant. The percent of households with at least one pet jumped from 64% in 2020 to 73% in 2021. The increase is being attributed to pandemic lockdowns — it’s likely that many people unable to meet with their friends wanted a pet to keep them company.
This means that homes that can accommodate pets are in higher demand. Pet-friendly HOAs or landlords are a plus for condo or rental seekers. For SFRs, a few factors are important for pet owners. They want fenced-in outdoor space so their pets can be outside without fear of them going missing. Having a doghouse is also a bonus. They usually want an extra bedroom for indoor pets, or at least more living space. This is also a general trend among recent homebuyers, but the decision to move seems to coincide with pet purchases.
Photo by Kate Stone Matheson on Unsplash