A Look at Home Buying and Selling over the last year…

I wanted to share some interesting findings from the NAR Profile of Home Buyers and Sellers for the past year. . .

Most recent buyers who purchased new homes were looking to avoid renovations and problems with plumbing or electricity at 38%.

Heating and cooling costs were the most important environmental features for recent home buyers, with 84% finding these features at least somewhat important.

12% of home buyers purchased a multi-generational home, to take care of aging parents, because of children over the age of 18 moving back home, and for cost-saving.

The typical buyer who did not use the internet during their home search spent only 4 weeks searching and visited 4 homes, compared to those who did use the internet and searched for 10 weeks and visited 10 homes.

  • 87% of buyers recently purchased their home through a real estate agent or broker, and 6% purchased directly from a builder or builder’s agent.
  • Having an agent to help them find the right home was what buyers wanted most when choosing an agent at 52%.
  • 68% of buyers interviewed only one real estate agent during their home search.
  • 90% of buyers would use their agent again or recommend their agent to others.

75% of recent sellers contacted only one agent before finding the right agent they worked with to sell their home.

90% of sellers listed their homes on the Multiple Listing Service (MLS), which is the number one source for sellers to list their home.

FSBOs typically sell for less than the selling price of other homes; FSBO homes sold at a median of $200,000last year (up from $190,000 the year prior), and significantly lower than the median of agent-assisted homes at $264,900.