40+ Real Estate Statistics To Keep On Top Of Your Head!

We've recently come across this great article that compiled a ton of real estate statistics that'll be good to know. Not only are these absolutely incredible for making a good impression on prospective clients, knowledge of these statistics help in standing out from the pack as real estate experts. Here's forty of our favorite real estate statistics.

1. Women make up more than 63% of Realtors.
2. There are only 43% of Realtors who have completed a bachelor’s degree or higher.
3. The median age for US Realtors is 54.
4. The average Realtor receives at least 30% of their business from repeat clients or referrals.
5. Realtors who have had their license for a year or less make up 20%.
6. Realtors specializing in residential real estate are at 71%.
7. Technology is the biggest challenge most agents face based on 45% of brokers report.
8. Realtors earning at least $100,000 in gross commission income are using advanced technology tools like a CRM more than twice as likely than agents who earn less.
9. Real estate agents working between 21 and 39 hours a week have an average income of $46,458.
10. On the other hand, real estate agents working 60 hours a week have an average income is $145,347.
11. As for real estate agents who’ve been full-time in the real estate business between four and 10 years have an average income of $63,595.
12. The average income of real estate agents who have spent full-time in the real estate business between 11 and 25 years is $101,633.
13. The typical US real estate agent closes 12 deals a year.
14. An estimate of more than one out of every five commercial drone shoots will be for real estate purposes in 2020.
15. Realtors who use videos to sell properties have a high chance of attracting homesellers with 73% of homeowners say they are more likely to list with one.
16. The “About Us” page on average is the third most viewed page of a real estate agent's website.
17. If requested, 69% of recent home sellers surveyed said they would gladly write a review for their sales agent.
18. On average, homes with drone photography as a part of the marketing plan sell 68% faster than those without.
19. “Professional reputation” is most often chosen by prospective home sellers as the most important trait they look for in an agent.
20. List prices year over year in January 2020 are up nearly 4% due to a continued national trend of an inventory shortfall
21. Homes sell the fastest in the US on average during the month of June.
22. Home ownership rates in the US is at 64.3% in January 2020, which have steadily risen since September 2016.
23. Fannie May and Freddie Mac are projecting that they’ll underwrite approximately 20,000 more mortgages in 2020 than they did in 2019.
24. Along with the Midwest region of the US, the Southwest is expected to have the most reliable growth around 3% on average in terms of sale prices in 2020.
25. Starting from 555,000 homes sold in December 2018 to 690,000 homes sold in March 2019, national home sales have grown steadily each month last year.
26. Since 2012, the number of homes with a sales price of less than $200,000 has fallen steadily with nearly 1.1 million when it started to a projection of just over 400,000 in 2019.
27. On average, mortgage rates are now 10% lower than they were in 2018, pushing mortgage applications to increase by 8%.
28. 35% of residential properties sold for between 95% and 99% of their listed price in 2019.
29. 59% of homebuyers under the age of 29 don’t expect to be in their home for more than 10 years while 28% of them plan on being in their new home less than five years.
30. 37% of residential buyers are millenials as of 2018.
31. First-time homebuyers make up one-third of homebuyers in 2019.
32. In 2019, 18% of homebuyers were single females.
33. In 2018, the average income for millennial households ranged from $71,200 to $101,200.
34. Before purchasing their first home, 74% of first-time homebuyers occupy rental housing immediately.
35. If the price and location were right, one in six homebuyers in 2019 were willing to compromise on the condition of a home.
36. Buyers search for their new home on their own for three weeks on average before reaching out to a real estate agent.
37. “Understanding the home buying process and steps” is the most difficult item for millennials aside from finding the right home.
38. Agents or brokers sold 92% of homes in the US.
39. 75% of homesellers accomplish their goals of selling their home with the first agent they interview.
40. 56 was the national median days-on-market for residential real estate in 2019.
41. Since March 2019, existing home sales remained relatively steady at about 433,000 per month.
42. January 2020 saw new home sales surged to a 12 year high of 764,000 units.
43. An estimated 43% of the home seller market is comprised of baby boomers.
44. 41% of listed homes have a price drop before getting an accepted offer.
45. Closing costs and home warranty are just some of the incentives offered by 34% of sellers to attract offers.
46. The typical home seller cashes in 29% equity when they sell their property.
47. Newspaper advertising helped generate only 2% of home sales in 2019
48. Back in 2009, there were more home foreclosures in the United States than there were marriages.

Source Article:

www.theclose.com

Image by Tumisu from Pixabay

40+ Real Estate Statistics To Keep On Top Of Your Head!