Survey: FOMO rules homebuying attitudes

A Chase national survey found that FOMO -- or "fear of missing out" -- has a significant sway on the homebuying attitudes of Americans.

According to the survey, titled "Insights from the Mind of the Modern Homebuyer," 3 in 4 homebuyers don't plan to stay in their homes long-term. Rather, they're holding out for the next best thing.

Additionally, 68% of Americans are starting the home search on their own, with 45% using a computer or laptop as a first step and 13% using a mobile device.

That doesn't mean they don't eventually come to seek the services of the pros. Three-quarters said they want to meet with a mortgage professional and feel that a realtor is essential.

“With more options and endless information at the consumer’s fingertips, it’s changing the way people look at major purchase decisions,” said Sean Grzebin, head of retail mortgage banking for Chase. “While homebuyers are using technology to find their next home, more than 70% still rely heavily on a mortgage professional.”

Another interesting tidbit: Americans are optimistic about the value of their home, with 66% of homeowners expecting their home’s value to increase over the next five years.