Tuesday, January 19, 2016

WHAT DID THE AVERAGE 2015 BUYER AND SELLER LOOK LIKE, ACCORDING TO THE NATIONAL ASSOCIATION OF REALTORS?

The typical buyer was 44 years old and had median income of $86,100, and 83% of them bought a detached single-family home. Here are some other interesting stats: A) 87% of buyers bought their home through a real estate agent or broker. B) 32% are first time buyers. C) Buyers expect to stay in their home 14 years (compare this stat with how long the typical seller actually stays.) D) 88% of buyers would use their agent again or recommend their agent to others. TYPICAL SELLER: A) Their age is 54 B) The typical tenure in the home is 9 years. C) The most common reason for selling a home was that it was too small, followed by a job relocation, D) 89% of home sellers worked with a real estate agent to sell their home. E) Only 8% of recent home sales were For Sale By Owner. This is the lowest share recorded since this report started in 1981, further underscoring how complicated a transaction has become, especially in California.

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