Fast Real Estate Facts
Conjecture abounds in real estate conversations. The best source for up-to-date facts about buying and selling a home is The National Association of Realtors(R). NAR offers real estate journalists a reliable source to report just the facts. Here are some fast facts based on their extensive research.
Home buyers:
-The typical first-home buyer is 32, and has a median income of $57,200. (Source: 2005 National Association of REALTORS® Profile of Home Buyers and Sellers.)
-According to the 2005 National Association of REALTORS® Profile of Home Buyers and Sellers, 79% of all homebuyers used the Internet as an information source. (Source: 2005 National Association of REALTORS® Profile of Home Buyers and Sellers.)
-The typical homebuyer searched for a home for 8 weeks before making a purchase. (Source: 2005 National Association of REALTORS® Profile of Home Buyers and Sellers.)
-The most popular reason for buying a home is the desire to own a home of their own, a need for more space/larger home, new job/relocation for a job, desire to be closer to a job, school, relatives or transit, need for less space, retirement, and desire for a vacation home/investment property. (Source: 2005 National Association of REALTORS® Profile of Home Buyers and Sellers.)
Home sellers.
-The typical homeseller owned their previous home for 6 years. (Source: 2005 National Association of REALTORS® Profile of Home Buyers and Sellers.)
-In the fourth quarter of 2005, the homeownership rate was 69%. (Source: U.S. Housing Market Conditions, Nov. 2005, HUD.)
-The typical home stayed on the market for 4 weeks before selling. (Source: 2005 National Association of REALTORS® Profile of Home Buyers and Sellers.)
-In 2005, when home buyers were asked where they first learned about the house they bought, 36% said real estate agents; 24% responded the Internet, 15% indicated yard signs; 5% said newspaper advertisement, 7% said friend/neighbor/relatives, 7% said the builder, 1% said home book/magazine, 3% knew the seller. (Source: 2005 National Association of REALTORS® Profile of Home Buyers and Sellers.)
-Recent home sellers lived in their previous home on average 6 years.(Source: The 2005 National Association of REALTORS® Profile of Home Buyers and Sellers.)
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Mark Nash’s fourth real estate book, “1001 Tips for Buying and Selling a Home” (2005), and working as a real estate broker in Chicago are the foundation for his consumer-centric real estate perspective which has been featured on ABC-TV, Associated Press,CBS The Early Show, Bloomberg TV, Bottom Line Magazine.CNN-TV, Chicago Sun Times & Tribune, Fidelity Investor’s Weekly, MarketWatch, HGTVpro.com, MSNBC.com, Smart Money Magazine, The New York Times, Realty Times, Universal Press Syndicate and USA Today. |
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