Brandon Nelson
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National Home Buyer Stats
I was just over on www.Realtor.org and saw this list of interesting statistics, so I thought I’d share:
Regarding the median home buyer:
- Number of weeks searched: 10
- Number of homes seen: 10
First-Time vs. Repeat Buyers:
- First-time buyers: 41%
- Repeat buyers: 59%
- Median age of first-time buyers: 30
- Median age of repeat buyers: 47
Buyers who definitely would use same agent again: 70%
Actions taken as result of Internet home search:
- Drove by/viewed a home: 77%
- Walked through a home viewed online: 63%
- Found agent used to search/buy home: 27%
Information sources used in home search:
- Internet: 87%
- Real estate agent: 85%
- Yard sign: 62%
- Open house: 48%
- Newspaper ad: 47%
- Home book or magazine: 30%
Statistics tell an interesting story. As someone in the business, I’m constantly reviewing stats of home sales, prices, where buyers learned about a house for sale or an open house, which advertising dollars pay off versus those that don’t, why some homes sell, some sales die while other sales succeed, and on and on.
Stats are like rules. And like my dad said twenty years ago when I asked him if he’d read the complete rule book for the game of golf: “Of course. Knowing ALL the rules can only help you.”
