This is GREAT information from the 2008 NAR Survey
I have been reviewing this information and will be posting the fact for you to consider when working with first time home buyers.
Prices continue to fall and there are great Conventional, FHA and VA loan rates available making the perfect storm for first time
home buyers. The National Association of Realtors Survey of Home Buyers and Sellers in 2008 has provided this great information:
- 41% of home purchases were made up of first time home buyers
- 75% of first time home buyers lived in an apartment or rented a home/condo before purchasing
- 19% were living with their parents before purchasing
- Marital Status: 12% single males, 24% single females, 49% married couples, 12% unmarried couples....Maybe you should plan a “Women’s ONLY First Time Home Buyer Seminar”- a niche within a niche
- 54% of first time home buyers where between the ages of 24 and 35… Generation X has arrived in full force; we are independent, skeptical and very blunt. You need to be creative with your website, social networking and emails; its all about the technology!
- Average incomes: $54K single males, $47K single females, $70K married couples, $65K unmarried couples....the single females may still make less $$$, but they do still purchase twice as many homes. Targeting “women only” marketing ideas may be a jackpot.
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