Highlights from the 2009 NAR Profile of Home Buyers and Sellers

Reblogger Monica Lynne
Industry Observer

 

Original content by Jason Burkholder

NAR has recently released the 2009 Profile of Home Buyers and Sellers.  The report compiles the results of 9,138 surveys returned by buyers and sellers who sold or purchased a home between July 2008 and June 2009.  The surveys were sent to buyers and sellers based on deed transfers and other public records.  The complete report is available for purchase at www.realtor.org .  Here are some highlights I found interesting:

•·         47% of all buyers were first time buyers.

•·         62% of first time buyers reported that the primary reason for buying a home was the desire to be a homeowner, 35% of all buyers reported that as the number 1 reason.

•·         The median age of all buyers was 39, same as last year.

•·         83% of all first time buyers are under the age 44. 

•·         62% of all buyers are under age 44.

•·         68% of the buyers surveyed in the Northeast make less than $100,000 per year.

•·         63% of all buyers had no children under the age of 18 residing at home.

•·         Buyers in the Northeast moved an average of 10 miles from where they currently lived.

•·         90% of all buyers used the internet to search.

•·         84% of buyers reported the photos to be the most useful information.

•·         The number one action taken after viewing a home online was to drive by or visit the home.

•·         66% of buyers reported that they used a print ad to search, but only between 84% to 90% (depending on the print medium) reported that those sources were "not useful".

•·         36% of buyers found the home they purchased through an agent, 36% found the home they purchased online, less than 3%found the home they purchased in a print ad.

•·         77% of buyers purchased their home with an agent.

•·         85% of sellers sold their home with an agent.

•·         39% of the mortgages were FHA loans.

•·         87% of buyers viewed real estate as a good investment.

So, besides making a handy list, what else does the report tell us?  It tells us specifically who the buyers and sellers are, what they want from us, where they want to go and most importantly, what their priorities are.  Valuable information for any customer service professional!

I'd like you to be part of the conversation, so if you like what you read here please comment, forward The Lancaster Connection.com to your friends, subscribe and as always, if you have questions, need real estate advice or want to buy or sell a home, you can call or text me at 717-371-0557, email me at Jason@JasonsHomes.com or contact me at the office at 717-490-8999!

Your Friend in Real Estate,

Jason Burkholder

Weichert, Realtors - Engle & Hambright

Search for Lancaster County Homes for sale at www.JasonsHomes.com by clicking here!

Want to see what's happening to home prices in your neighborhood?  Go to www.RealEstateCrystalBall.com !

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Emily Medvec
Keller Williams Santa Fe - Santa Fe, NM
Associate Broker Serving Santa Fe & Northern NM

Thank you for making this very valuable information available along with your quick and useful summary. I fail to understand why the National Association of Realtors (NAR) charges its members for this data given our dues support the ability for the organization to do the research in the first place.

What a generous gift of time and data to those of us on ActiveRain. You certainly are making a difference.

Dec 16, 2009 09:41 AM #1
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Emily Medvec
Keller Williams Santa Fe - Santa Fe, NM
Associate Broker Serving Santa Fe & Northern NM

Quick update to my comment on NAR www.realtor.org site. I understand report is available to members online if they register.

Dec 16, 2009 10:18 AM #2
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Kevin & Monicaand Jason really does know his business! By the way you never claimed your signed photo print from Robert Swetz for this contest, please take a look at the link below.......

Memories at Active Rain Contest Winners Announced!

VB ;o)

Dec 17, 2009 07:08 PM #3
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