2010 NAR STATISTICS OUT...HERE'S A FEW INTERESTING STATS!

By
Real Estate Agent with Dunnigan, Realtors, Sacramento (916) 425-9715 CalBRE # 01188158

I don't know about you, but I love charts, graphs and statistics.  It is an easy way to get an overall view of what is happening in the real estate industry.  The new National Association of REALTORS survey just came out, so I thought I would share a few of the more interesting stats.

10 Years - the median number of years first-time homebuyers stay in their home,

152% - the percentage of increase in value for those homeownes who stay in their home 21 years or more

89% - the percentage of buyers who searched for a home onlineHome buying

48% - the percentage of buyers who found their agent through a friend, relative or neighbor...the next highest percentage were those who found their agent through a website - 10%

59% - the percentage of buyers who used the internet to search for properties, using an MLS site

2% - the percentage of buyers who used a social networking site for their real estate needs

85% - the percentage of buyers who found photos "very useful"

43% - the percentage of loans that were FHA financed...and the predominant type of loan

The real estate industry has experienced some interesting, frustrating and extreme ups and downs in the past few years.  I think these stats are reflective of those changes.  FHA was almost non-existent just a short 5 years ago...now it is the predominant type of loan.  The percentage of buyers searching for their home online continues to increase.  Despite the common thought, social networking rarely comes into play when buyers are searching for their home or agent.

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  1. Cheryl Ritchie 11/15/2010 12:11 AM
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Rainer
117,647
Nicole Needham
Needham Realty - Winters, CA
SFR (530) 302-5478

2% social networking yet all this push in this direction, is the number so low because it is new or is this a misguided source of customers ?

Nov 10, 2010 06:18 AM #1
Rainmaker
262,692
Paula Swayne
Dunnigan, Realtors, Sacramento (916) 425-9715 - Sacramento, CA
Realtor-Land Park, East Sac & Curtis Park -Dunniga

Hi Nicole!
I can only speak to my own opinion.  I don't think it is because it is new...social networking has been around long enough now to have some influence if it was going to.  Personally, when I am on FB or Twitter, it is my social hour...not my work hour.  In fact, I don't like it when people start promoting themselves or their listings on FB...in my humble opinion, FB is suppose to be fun...not work....thus the work "social".

Nov 10, 2010 06:37 AM #2
Rainmaker
777,818
Michael A. Caruso
Surterre Properties - Laguna Niguel, CA

89% - the percentage of buyers who searched for a home online

This is why we are doing what we are doing! Postlets, Craigslist, personal websites, realtor.com, homeseekers.com, etc...they are looking online so we must put it there!

Nov 10, 2010 07:38 AM #3
Rainmaker
262,692
Paula Swayne
Dunnigan, Realtors, Sacramento (916) 425-9715 - Sacramento, CA
Realtor-Land Park, East Sac & Curtis Park -Dunniga

Hi Michael!
...and honestly, my best results have been via the Rain.  Gotta love it!

Nov 10, 2010 06:16 PM #4
Rainmaker
291,454
Kate Bourland
Marketing with Kate - Redding, CA
Onlilne Marketing Mobile Marketing

Paula, these are some very interesting statistics.  10 years, my longest has been 5 years.

Nov 10, 2010 06:48 PM #5
Rainer
71,580
Kevin Nash
Shorewest Realtors, Metro Milwaukee - Germantown, WI
ABR, CSRS

85% - the percentage of buyers who found photos "very useful". But yet we still see horrible photos out there passed off as professional marketing peices by professional real estate sales people. Hummmm.

Nov 11, 2010 12:34 AM #6
Rainmaker
639,725
Cindy Bryant
Redesign Etc. Home Staging - Houston, TX
"Houston Home Staging Pros"

89% that start their search online and 85% that find photos useful.  Those are very large numbers, photos should be the best quality they can be, and still as Kevin says their are still so many photos that are not doing a property justice.

Nov 11, 2010 03:04 PM #7
Rainer
152,258
Anna Tolstoy
Coldwell Banker Residential Brokerage - Natick, MA

10% "referral" through website seems low... But I think, that now people check out agents that were referred to them by friends, using google and websites etc. Or is i t my wishful thinking?.. 

Nov 14, 2010 03:12 PM #8
Rainmaker
262,692
Paula Swayne
Dunnigan, Realtors, Sacramento (916) 425-9715 - Sacramento, CA
Realtor-Land Park, East Sac & Curtis Park -Dunniga

Hi Anna!
I think the 10% are people who chose their agent directly from their website.  I think a lot more clients use the agents website to learn about them and help make their decision.

Nov 14, 2010 03:46 PM #9
Rainmaker
1,387,696
Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566

I could have written the first paragraph! I love stats, too, and cannot wait to download this immediately!!

Nov 15, 2010 12:08 AM #10
Rainmaker
657,067
Joetta Fort
The DiGiorgio Group - Arvada, CO
Independent Broker, Homes Denver to Boulder

Well it looks like I made the right call, not spending too much time on social networking. One thing done right!

Nov 15, 2010 02:56 AM #11
Ambassador
1,705,460
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Paula, I also love stats. I found it surprising that only 10% found their agent through the agent website.

Nov 15, 2010 03:52 AM #12
Ambassador
702,801
Lee & Pamela St. Peter
Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522 - Raleigh, NC
Making Connections to Success in Real Estate

Thanks Paula for the recap from NAR...  I still contend that it's almost 100% of real estate purchases that start online.  Even if someone isn't online they know someone (family member or friend) who is looking for them...   Am looking forward to reading more...

Nov 15, 2010 04:11 AM #13
Rainmaker
1,610,702
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Obviously their numbers are different than ours. I still say that a referral is the best way to get a buyer or seller.

Nov 15, 2010 05:09 AM #14
Rainer
22,269
Nicole Fleming
FC Tucker Emge - Henderson, KY

I love stats.  Thanks for sharing the points.

Nov 15, 2010 04:33 PM #15
Rainmaker
648,654
DeeDee Riley
Lyon Real Estate - El Dorado Hills CA - El Dorado Hills, CA
Realtor - El Dorado Hills & the Surrounding Areas

Interesting stuff Paua!  I think social networking is pretty new still but will play a much bigger role in the as time goes on.

Nov 15, 2010 04:50 PM #16
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Rainmaker
262,692

Paula Swayne

Realtor-Land Park, East Sac & Curtis Park -Dunniga
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