2009 Profile for Buyers and Sellers
by Tyler on 12/13/09
NAR recently released the 2009 profile for buyers and sellers. The results were compiled from over 9,000 surveys from people who purchased a home between June 2008 to July 2009. Below you will find some of the highlights from the report.
- 47% of all buyers were first time buyers.
- 62% of first time buyers reported that the primary reason for buying a home was the desire to be a homeowner, 35% of all buyers reported that as the #1 reason.
- The median age of all buyers was 39, same as last year.
- 83% of all first time buyers are under the age 44.
- 62% of all buyers are under age 44.
- 68% of the buyers surveyed in the Northeast make less than $100,000 per year.
- 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 number one action taken after viewing a home online was to drive by or visit the home.
- 66% of buyers reported that they used a print ad to search, but only between 84% to 90% (depending on the print medium) reported that those sources were “not useful”.
- 36% of buyers found the home they purchased through an agent, 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.
Source: NAR
