NAR reveals homebuyer habits of 2014

by | Feb 18, 2015 | Blog, Buying a Home

profile of home buyers and sellersIt’s no surprise that homebuyers come in all shapes and sizes, approach the task of finding a home in different ways, and are seeking varied solutions to their housing needs. But taken as a whole, they share some common denominators.

The National Association of Realtors recently released its “Profile of Home Buyers and Sellers 2014,” which turned up some interesting insights into national homebuyers and their habits:

About buyers

  • The typical buyer searched for 10 weeks and viewed 10 homes, representing a 2-week drop in search time from 2013.
  • 33% were first-time homebuyers, a drop from the historical norm of 40%
  • The typical first-time buyer was 31-years old.
  • The typical repeat buyer was 53 years old.
  • 65% of homebuyers were married couples.
  • Buyers are expected to live in their homes for an average of 12 years after purchase. (According to other reports, first-time buyers stay for around 11-1/2 years, while previous owners stay15 years.)

About homes purchased

  • 13% of buyers purchased multi-generation homes to accommodate children over 18 or to care for aging parents.
  • 79% of homes purchased were single-family, detached homes.

About method of purchase

  • 88% of purchasing buyers used a real estate agent, up from 69% in 2001.
  • 88% of buyers would use their agent again or recommend the agent to others.
  • 98% of buyers who used an agent considered the agent to be a useful resource.
  • 92% of buyers used a mobile website or app in their home search.

Do these habits sound true with you? Are you a home buyer looking for Denver real estate? Start your search here, using our advanced website tools.

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