Interesting data about the profile of 2010 Illinois homebuyers

By
Real Estate Agent with RE/MAX of Naperville

Recently the Illinois Association of Realtors released the "2010 Illinois Profile of Home Buyers and Sellers."

This info was mined through a questionnaire furnished by the National Association of Realtors that was answered by almost 10,000 buyers.

Here are a few nuggets that I found interesting:

  • The average age of the typical first time homebuyer was 30 years old compared to the average age of the typical repeat buyer which was 42
  • More than half of all buyers in Illinois were first time homebuyers; Illinois first time homebuyers were a higher percentage in comparison to U.S. stats
  • Only 5% of all buyers in Illinois were cash buyers
  • 22% of purchasers were single females versus 11% single males; this has been a recurring theme if you look at statistics over the past few years
  • Percentage of buyers who used the Internet to assist their search? 93%. I'm more curious about the 7% who didn't use the Internet. Perhaps they are related to the four percent of people who visited my website last month who used a dial-up connection
  • Only 9% of those who purchased a home in Illinois last year bought a property that was in short sale; I wonder how many attempted to purchase one but ran out of patience
  • Following a trend that follows poor new construction statistics, only 9% of homes purchased in 2010 in Illinois were new construction. This was the lowest percentage found in survey responses over the past nine years

I will be interested to know how these percentages change over time. These statistics, though certainly not perfect, offer a pretty good snapshot of what the local trends have been over the past year.

Posted by

Bill White, Jr.

RE/MAX of Naperville

REALTOR, Associate Broker

630-730-1300

http://billwhitehomes.com

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buyer trends illinois 2010 iar profile naperville bill white homes remax first time homebuyers new construction

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Rainmaker
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Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Hmmm....that is an interesting report.    Am sure that it applies to many areas.    Thanks for posting this.

Apr 05, 2011 08:57 AM #1
Rainer
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Steve Smither
Cardinal Financial Company - Inverness, IL

Very interesting information...

Especially the low short sales and new construction.

Thanks for sharing Bill

Apr 05, 2011 09:02 AM #2
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Rainer
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Bill White, Jr.

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