Stats to Know

Home Buyer & Seller Statistics

Active home search (median):

• Number of Weeks Searched - 8
• Number of Homes seen - 9

Method of Home Purchase, By Use of Internet:

• Agent/Broker - 81%
• Direct from Builder - 10%
• Direct from previous owner whom buyer didn’t know - 5%
• Definitely would use same agent again: 68%

Actions taken as result of using Internet site:

• Drove by/viewed a home - 73%
• Walked through a home viewed online - 57%
• Found agent used to search/buy home - 23%

Prior Living Arrangement:

• Owned previous residence- 47%
• Rented an apartment or house - 41%
• Lived with parents, relatives or friends- 9%

Source: 2007 National Association of REALTORS® Profile of Home Buyers and Sellers

What Buyers Want Most From Real Estate Professionals

• Help you find the right house to purchase - 53%
• Help with price negotiations - 13%
• Tell you what comparable homes are selling for - 11%
• Help determining how much buyer can afford - 11%
• Help with paperwork - 8%
• Help find and arrange financing - 2%

Source: 2007 National Association of REALTORS® Profile of Home Buyers and Sellers

For Sale By Owner (FSBO) Statistics

Did You Know?

The typical FSBO home sold for $187,200 compared to $247,000 for agent-assisted home sales.

FSBO Methods Used to Market Home:

• Yard Sign - 50%
• Friends/neighbors - 29%
• Newspaper ad - 31%
• Open House - 25%
• Listing on the Internet - 21%

Most Difficult Tasks for FSBO Sellers:

• Getting the right price - 15%
• Understanding paperwork - 18%
• Preparing/fixing up home for sale - 15%
• Attracting potential buyers - 9%
• Having enough time to devote to all aspects of the sale - 7%

Source: 2007 National Association of REALTORS® Profile of Home Buyers and Sellers

Information Sources Used in Home Search

• Real estate agent - 84%
• Internet - 84%
• Yard sign - 59%
• Open house - 48%
• Home book/magazine - 31%
• Builders - 24%
• Television - 9%
• Billboard - 7%
• Relocation company - 5%

Source: 2007 National Association of REALTORS® Profile of Home Buyers and Sellers

Did You Know?

Minorities now account for 29 percent of all households, up from 17 percent in 1980 and 25 percent in 2000. The minority share is likely to reach about 35 percent by 2020.

Persons living alone are expected to account for 36 percent of household growth between 2010 and 2020. Three-quarters of the more than 5.3 million projected increase in single-person households in 2010-2020 will be among individuals aged 65 and older - a group that has shown a marked preference for remaining in their homes as they age.

Source: State of the Nation’s Housing 2008 (Joint Center for Housing Studies)