The National Association of Realtors just released its latest profile of home buyers and sellers and it contained some great information.
Characteristics of home buyers-
-The median age of home buyers was 39 years old. Among first time home buyers , the median age was 31.
-61% of home buyers had no children under the age of 18 living at home.
-First time home buyers accounted for 41% of recent home purchases
-41% of first time home buyers between 25 and 34 years old
-47% of home buyers report using social networking sites such as My Space and Facebook. Among buyers 18 to 24, 83% percent report using these sites.
Characteristics of homes purchased
-New home purchases were 32% of recent home purchases
-The median price of homes purchased in Georgia was $195,000
-Commuting costs were considered somewhat or very important by 80% of buyerswhen considering which home to purchase
The home search process
-89% of buyers used the internet to search for homes
-The typical home buyer searched for a home for a median 9 weeks and saw a median 12 homes
-36% first learned about the home they purchased from a Real Estate Professional. 29% first learned of the home they purchased from the internet.
-83% of buyers found their Realtor to be a very useful information source
-10% of buyers purchased a foreclosed home. 40% considered buying a foreclosure
Home buying and Real Estate Professionals
-76% of home buyers purchased their home using an agent
72% of buyers will definately use their agent again. 15% will most likely use their agent again.
For Sale By Owners
-13% sold their home without the help of an agent
-53% of those sellers repoorted difficulties doing it themselves.
What does all this mean? The numbers may have changed a bit but one thing remains consistent. A Realtor is your best source to buy and sell your home. Contact us today to help you through the process!
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