Today's Home Buyer

Who is today's buyer? With the ever changing real estate market the question I am frequently asked is this question. 

 

 

 

Here are some national facts and stats regarding today's home buyer. 

 

• 66% of homebuyers today are married couples (this number is up since 2001).

• The median income for buyers is $83,300.

• The median home purchased was built in 1992 and was within 12 miles of their previous residence.

• The typical home purchase was 1900 square feet.

• 30% said that owning their own home was their primary reason for buying.

• More than half of buyers said that finding the right home was the most difficult step in the buying process.

• The typical buyer searched for 12 weeks and viewed 10 homes.

• The typical buyer was 42 years old.

• 3 out of 5 buyers, according to Realtor.com, said that they would go "over budget"  to have their children go to the school of their choice.

• 80% of homebuyers purchased a single family detached home.  Note: a detached home refers to a free-standing home as opposed to a condominium or PUD that shares a common wall.

 

Nancy Puder is a real estate broker in Arroyo Grande, CA. with Nancy Puder &Associates. If you have any questions or concerns regarding your own property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com.  You may also go to Facebook.com/Nancy Puder Realtor and "like" her page to access other real estate related articles.