The National Association of Realtors (NAR) has recently released the results of its annual Profile of Home Buyers and Sellers. Below are some interesting statistics from the 2009 report.
The data is derived from over 9,000 surveys returned by buyers and sellers during the period between July 2008 and June 2009. This particular list focuses on home buyers.
Home Buying Statistics:
- 47% of all buyers were first time buyers.
- The median age of all buyers was 39.
- 83% of all first time buyers are under the age 44.
- 62% of all buyers are under age 44.
- 63% of all buyers had no children under the age of 18 residing at home.
- Buyers in the Northeast moved an average of 10 miles from where they currently lived.
- 90% of all buyers used the internet to search.
- 84% of buyers reported the photos to be the most useful information.
- The #1 action taken after viewing a home online was to drive by.
- 36% found the home they purchased online.
- Less than 3% found the home they purchased in a print ad.
- 77% of buyers purchased their home with an agent.
- 85% of sellers sold their home with an agent.
- 39% of the mortgages were FHA loans.
- 87% of buyers viewed real estate as a good investment.
The number of home buyers starting their search on line is now at a staggering 90%. The figure for 2008 was 90%, and it was only a few years ago that it was below 50%.
Posted by: Michael Sosnowski
Categories:
Maine Real Estate
Relocation
Home Buying