Monday, April 11, 2011

NAR Survey of 2010 home buyers and sellers

The National Association of Realtors has recently released the results of its survey of 2010 Buyers and Sellers.  Some of the statistics and findings are really interesting.  I'll provide an overview below, but here are a couple observations.

1.  The average age of first time home buyers is 30 years old, of repeat buyers is 49 years old and of sellers is 49 years old.  No wonder we have a disconnect in viewpoints, sometime.
2.  The Internet and the Realtor continue to be the two most prevalent sources of valuable listing information (used frequently or occasionally 89% and 88% of the time, respectively).
3.  88% of homes sold in 2010, sold through a Realtors, 9% were sold by owner and 3% other.

Here is a summary of the data.  I know we are biased at Coldwell Banker Shook, but the data continues to demonstrate the value and importance of involving a Realtor in your  home sale or purchase


I Demographics of buyers and sellers
                                                                      First time     Repeat
                                                                       Buyer          Buyer                 Seller

Ave. age                                                           30 yo         49 yo                 49 yo
Annual income                                              $ 60,000    $ 72,200          $ 90,000
Married?                                                             49%          69%                  75%
Single?                                                                20%          17%                  10%

II. Source of information used to identify prospective homes (frequent or occasionally used)

Internet                                                                 89%
Realtor                                                                  88%
Yard Sign                                                              57%
Open House                                                          45%
Print advertising                                            24%-36%

III. Website used in home search

realtor.com                                                           45%
Real estate company                                             43%
Real estate agent                                                   42%
Other real estate websites                                     41%
For sale by owner websites                                  15%
Newspaper websites                                             8%

IV. Method of home sale
Sold via a Realtor                                                  88%
Sold by owner                                                        9%
Other                                                                      3%

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