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.