Buyers Say Air Conditioning is Essential, Commands Premium

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A new report from Zillow says that homes with air conditioning sell for 2.5% more than those lacking this increasingly essential amenity.  Renters, too, put a slightly higher premium on air conditioning with the typical rental listing on Zillow (w/central air) renting for 2.8% more than those without.  In addition, they report that, nationwide, 66.1% of homes that have air conditioning and for those in the hottest climates – almost all of them;  IE 99.1% of homes sold in Las Vegas, and 97.9% of homes sold in Phoenix….go figure?

“With summer temperatures hitting record highs across the country, today’s home buyer places a premium on the once-upon-a-time luxury amenity of air conditioning,” said Zillow Senior Economist Aaron Terrazas.

Click here to read the full report on Zillow.com.

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Director of Education & Outreach, National Real Estate Investors Association

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