According to the National Association of Realtors Profile of home buyers and sellers, 50% of recent buyers were first-time buyers. Another 20% were single females, while 12% were single males. Singles make up a larger share of the market in recent years than they did in the 'old' days when buyers were mostly married with children. The typical first-first time buyer was 30 years old, and repeat buyers average age was 49 years.
77% of the buyers purchsed a singe family, detached home. 11% of buyers who were 50 plus purchased homes in senior related housing or in an comumunity for active adults.
The first step in the home buying process was to look online for properties. Before their home was purchased, 90% of buyers had used the internet to search.
The vast majority of buyers, 83% used the services of a real estate agent or broker. Four percent bought a home in foreclosure and six percent a short sale. 87% of the buyers would use or recommend their agent for future purchases. 48% of buyers found their agent through a referral from a friend or family member.
Do you fit the numbers? Do these catogories describe you? If not, you may find yourself in a catogory not described above: one in the couple, partnership, or commited relationship demographic. Yes, they too buy homes - approximately 18% of buyers fell into that catogory if I did the math accurately.
Doesn't matter which category you fit. The real story is that all kinds of people are interested in purchasing homes for a variety of reasons. Will you be one of them in 2011?
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