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Home Buyer Statistics

posted Aug 18, 2016, 9:06 AM by St. Clair Association   [ updated Oct 6, 2018, 1:45 PM ]

Home Buyer Statistics

  • First-Time vs. Repeat Buyers:
    • First-time buyers: 34%
    • Median age of first-time buyers: 32
    • Median age of repeat buyers: 54
    • Median household income of first-time buyers: $75,000
    • Median household income of repeat buyers: $97,000
  • The typical home purchased was 1,870 square feet in size, was built in 1991, and had three bedrooms and two bathrooms.
  • Among those who financed their home purchase, buyers typically financed 90% of the home price.
  • 87% of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69 percent in 2001.
  • Buyers who would use their agent again or recommend their agent to others: 89%
  • Where buyers found the home they purchased:
    • Internet: 51%
    • Real estate agent: 30%
    • Yard sign/open house sign: 7%
    • Friend, relative or neighbor: 6%
    • Home builder or their agent: 5%
    • Directly from sellers/Knew the sellers: 2%
    • Print newspaper advertisement: Less than 1%

Source: 2017 National Association of REALTORS® Profile of Home Buyers and Sellers


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