The new NAR report on the characteristics of homebuyers was released today.
Let’s note how many homes were bought to accommodate kids moving back home – or who never left. Past generations never had to worry about kids moving out when everybody could afford a home.
As the prices go sky high, more kids will be faced with either having to move far away if they want/need to buy an affordable home, or live with their parents for the duration – yikes!
One more variable to add to the Reasons-To-Move theories, and help explain why demand is exploding!
The National Association of Realtors® has released results of their Home Buyer & Seller Survey. Interesting reading. Over the past decade, more and more people have turned to the Internet to find their new home (well, that’s obvious, right?).
Married couples make up the largest share of the housing market, accounting for 61 percent of transactions. Single women purchase 21 percent of homes while single men account for 9 percent. Unmarried couples were 7 percent of the market, and 2 percent were listed as other. In 2004, single women were 18 percent of buyers and single men were 8 percent.
The typical buyer walked through nine properties, searched eight weeks to buy a home, and moved 12 miles from their previous residence.
In finding a real estate professional, 44 percent of buyers were referred by a friend, neighbor, or relative, 11 percent used an agent from a previous transaction, 7 percent found an agent on the Internet (Hi, readers!), 7 percent met at an open house and 6 percent saw contact information.
The most important factor in choosing an agent was reputation, according to 41 percent of home buyers,
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