The National Association of Realtors puts out an annual report on the current home buying environment. If you’re a numbers person like me, this report is priceless. But, I’m probably correct in assuming that the majority of you are not so intrigued by the numbers, and so I have opted to put together an infographic that will help share that data in an easy to digest manner.
For the less visual learners, he are the highlights of the findings.
The Home Buyer
-Thirty-eight percent of recent home buyers were first-time home buyers. Which is 2 percent lower than the historical norm of 40 percent.
-The typical home buyer was 42 years old
-The typical first-time home buyer was 31 years old
-The typical repeat home buyer was 52 years old
-Sixty-six percent of of home buyers were married
The Typical Home
-Of recent home purchases, the typical home size was 1,900 sq ft, it was built in 1992, and had 3 bedroom 2 bathrooms
-Eighty-five percent of recent buyers considered heating and cooling costs at least somewhat important when choosing a home
-Seventy-three percent of recent home buyers considered a commute at least somewhat important when buying a home
Finding a Home
-Ninety-two percent of recent home buyers used the internet to aid them in their search
-Eighty-eight percent of recent home buyers used a realtor when buying a home
Financing a Home
-Eighty-eight percent of recent home buyers financed their home using debt
-For those using debt to finance their home, 90 percent of the home’s value was being financed
The data was collected from a sample 148,011 recent home buyers. 8,767 people responded to the mailed out survey.
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