8/20/2019 2015 Profile of Home Buyers and Sellers in Subregions

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November 13, 2015

National Association of REALTORS ®  

Research Division

8/20/2019 2015 Profile of Home Buyers and Sellers in Subregions

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» Survey conducted with recent home buyers whopurchased a home between July 2014 – June 2015

» Seller information gathered from those home buyers

who sold a home» Mailed 94,971 questionnaires- response rate of 6.7%

» Names obtained from Experian

» Data in the presentation is based on medians or the

typical buyer in the category and is not allencompassing

2015 Profile of Home Buyers and Sellers

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6%

9%

11%

36%

Smaller home

Family changes

Larger home

Desire to own

% 10% 20% 30% 40%

Reasons to Purchase Home

Type of Home Purchased

Single Family, 81%

Townhouse, 4%

Apt/ condo, 5%

Other, 10%

11% of buyers bought multi-generational home

Reasons:

Health/caretaking of aging parents-22%

Children over 18 moving back into home-19%

Cost savings-13%

Spend more time w/aging parents-13%

Fast Facts of Buyers:

Median Age: 39

Median Income: $94,000

42% are first-time buyers

93% are buyers of previously owned homes

91% bought through an agent/broker

65% Married couple and 16% single females

Median years expected to live in home: 15

12% veterans and 2% active-duty service

Fast Facts of Sellers:

Median Age: 52 88% used an agent/broker to sell

their home

Number one reason to sell home:

Home too small

17% delayed or stalled their home

sale because their home was worth

less than their mortgage

Median number of weeks to sell

home: 6

Median percent of listing pricereceived: 97%

For-Sale-By-Owner (FSBO): 8%

2015 Profile of Home Buyers and Sellers

13%

15%

15%

38%

Other websites

Multiple Listing Service

(MLS)

Realtor.com

Real estate agent & agent's

website

0% 10% 20% 30% 40% 50%

Where Buyer First Found Home

Student Loan Debt

19% had difficulty saving for

downpayment

Of that, 51% had student loan

debt Length of delay in years: 5

Amount of debt: $33,000

8/20/2019 2015 Profile of Home Buyers and Sellers in Subregions

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7%

8%

11%

35%

Smaller home

Family changes

Larger home

Desire to own

% 10% 20% 30% 40%

Reasons to Purchase Home

Type of Home Purchased

Single-family, 77%

Townhouse, 10%

Apt/ condo, 5%

Other, 8%

11% of buyers bought multi-generational home

Reasons:

Cost savings-23%

Health/caretaking of aging parents-15%

Children over 18 moving back into home-14%

Children over 18 that never left home-12%

Fast Facts of Buyers:

Median Age: 42

Median Income: $82,700

43% are first-time buyers

93% are buyers of previously owned homes

90% bought through an agent/broker

58% Married couple and 14% single females

Median years expected to live in home: 20

16% veterans and 2% active-duty service

Fast Facts of Sellers:

Median Age: 57

85% used an agent/broker to sell

their home

Number one reason to sell home:

Smaller home

9% delayed or stalled their home

sale because their home was worth

less than their mortgage

Median number of weeks to sell

home: 6

Median percent of listing price

received: 97%

For-Sale-By-Owner (FSBO): 13%

2015 Profile of Home Buyers and Sellers

Student Loan Debt

16% had difficulty saving for

downpayment Of that, 49% had student loan

debt

Length of delay in years: 4

Amount of debt: $27,000

8%

9%

13%

44%

Multiple Listing Service

(MLS)

Other websites

Realtor.com

Real estate agent & agent's

website

0% 10% 20% 30% 40% 50%

Where Buyer First Found Home

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Type of Home Purchased

Single-family, 84%

Townhouse, 4%

Apt/ condo, 5%

Other, 7%

7%

9%

11%

31%

Smaller home

Family changes

Larger home

Desire to own

% 10% 20% 30% 40%

Reasons to Purchase Home

11% of buyers bought multi-generational home

Reasons:

Health/caretaking of aging parents-18%

Children over 18 moving back into home-14%

Cost savings-11%

Children over 18 that never left home-8%

Fast Facts of Buyers:

Median Age: 39

Median Income: $78,700

37% are first-time buyers

92% are buyers of previously owned homes

87% bought through an agent/broker

62% Married couple and 19% single females

Median years expected to live in home: 15

12% veterans and 1% active-duty service

Fast Facts of Sellers:

Median Age: 53

86% used an agent/broker to sell

their home

Number one reason to sell home:

Home too small

17% delayed or stalled their home

sale because their home was worth

less than their mortgage

Median number of weeks to sell

home: 4

Median percent of listing price

received: 97%

For-Sale-By-Owner (FSBO): 11%

2015 Profile of Home Buyers and Sellers

Student Loan Debt

15% had difficulty saving for

downpayment Of that, 56% had student loan

debt

Length of delay in years: 3

Amount of debt: $30,000

10%

12%

14%

38%

Other websites

Multiple Listing Service

(MLS)

Realtor.com

Real estate agent & agent's

website

% 10% 20% 30% 40%

Where Buyer First Found Home

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Type of Home Purchased

Single-family, 80%

Townhouse, 5%

Apt/ condo, 3%

Other, 4%

6%

9%

13%

28%

Job relocation

Family Changes

Larger home

Desire to own

% 10% 20% 30%

Reasons to Purchase Home

11% of buyers bought multi-generational home

Reasons:

Cost savings-33%

Health/caretaking of aging parents-8%

Children over 18 moving back into home-3%

Children over 18 that never left home-3%

Fast Facts of Buyers:

Median Age: 36

Median Income: $79,900

40% are first-time buyers

90% are buyers of previously owned homes

87% bought through an agent/broker

72% Married couple and 13% single females

Median years expected to live in home: 10

22% veterans and 1% active-duty service

Fast Facts of Sellers:

Median Age: 46

89% used an agent/broker to sell

their home

Number one reason to sell home:

Job relocation

10% delayed or stalled their home

sale because their home was worth

less than their mortgage

Median number of weeks to sellhome: 4

Median percent of listing price

received: 98%

For-Sale-By-Owner (FSBO): 8%

2015 Profile of Home Buyers and Sellers

Student Loan Debt

13% had difficulty saving for

downpayment Of that, 54% had student loan

debt

Length of delay in years: 3

Amount of debt: $50,000

8%

10%

13%

50%

Multiple Listing Service

(MLS)

Other websites

Realtor.com

Real estate agent & agent's

website

% 10% 20% 30% 40% 50% 60%

Where Buyer First Found Home

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Type of Home Purchased

Single-family, 79%

Townhouse, 12%

Apt/ condo, 4%

Other, 6%

8%

8%

10%

27%

Retirement

Larger home

Job relocation

Desire to own

0% 10% 20% 30%

Reasons to Purchase Home

13% of buyers bought multi-generational home

Reasons:

Health/caretaking of aging parents-26%

Cost savings-13%

Children over 18 moving back into home-12%

Spend more time w/aging parents-8%

Fast Facts of Buyers:

Median Age: 48

Median Income: $89,600

28% are first-time buyers

79% are buyers of previously owned homes

86% bought through an agent/broker

68% Married couple and 16% single females

Median years expected to live in home: 10

21% veterans and 3% active-duty service

Fast Facts of Sellers:

Median Age: 56

91% used an agent/broker to sell

their home

Number one reason to sell home:

Move closer to friends & family

16% delayed or stalled their home

sale because their home was worth

less than their mortgage

Median number of weeks to sell

home: 6

Median percent of listing price

received: 97%

For-Sale-By-Owner (FSBO): 7%

2015 Profile of Home Buyers and Sellers

Student Loan Debt

11% had difficulty saving for

downpayment Of that, 46% had student loan

debt

Length of delay in years: 3

Amount of debt: $15,000

11%

11%

11%

42%

Other websites

Multiple Listing Service

(MLS)

Realtor.com

Real estate agent & agent's

website

0% 10% 20% 30% 40% 50%

Where Buyer First Found Home

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Type of Home Purchased

Single-family, 81%

Townhouse, 7%

Apt/ condo, 3%

Other, 10%

11%

12%

13%

18%

Closer to friends &

family

Job relocation

Larger home

Desire to own

0% 5% 10% 15% 20%

Reasons to Purchase Home

19% of buyers bought multi-generational home

Reasons:

Children over 18 that never left home-26%

Desire to own a larger home-18%

Health/caretaking of aging parents-16%

Children over 18 moving back into home-12%

Fast Facts of Buyers:

Median Age: 46

Median Income: $73,200

25% are first-time buyers

80% are buyers of previously owned homes

82% bought through an agent/broker

70% Married couple and 15% single females

Median years expected to live in home: 15

22% veterans and 4% active-duty service

Fast Facts of Sellers:

Median Age: 57

75% used an agent/broker to sell

their home

Number one reason to sell home:

Smaller home

10% delayed or stalled their home

sale because their home was worth

less than their mortgage

Median number of weeks to sellhome: 9

Median percent of listing price

received: 96%

For-Sale-By-Owner (FSBO): 18%

2015 Profile of Home Buyers and Sellers

Student Loan Debt

9% had difficulty saving for

downpayment

Of that, 58% had student loan

debt

Length of delay in years: 3

Amount of debt: $70,000

10%

10%

10%

40%

Home builder

Friend, neighbor, or relative

Realtor.com

Real estate agent & agent's

website

0% 10% 20% 30% 40% 50%

Where Buyer First Found Home

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Type of Home Purchased

Single-family, 92%

Townhouse, 3%

Apt/ condo, 1%

Other, 4%

7%

11%

12%

31%

Family changes

Job relocation

Larger home

Desire to own

0% 20% 40%

Reasons to Purchase Home

15% bought multi-generational home

Reasons:

Health/caretaking of aging parents-22%

Cost savings-13%

Children over 18 moving back into home-10%

Spend more time w/aging parents-8%

Fast Facts of Sellers:

Median Age: 54

90% used an agent/broker to sell

their home

Number one reason to sell home:

Upkeep of home too difficult

8% delayed or stalled their home

sale because their home was worth

less than their mortgage Median number of weeks to sell

home: 2

Median percent of listing price

received: 99%

For-Sale-By-Owner (FSBO): 7%

Fast Facts of Buyers:

Median Age: 43

Median Income: $95,000 34% are first-time buyers

71% are buyers of previously owned homes

80% bought through an agent/broker

68% Married couple and 14% single females

Median years expected to live in home: 10

16% veterans and 3% active-duty service

2015 Profile of Home Buyers and Sellers

Student Loan Debt

12% had difficulty saving for

downpayment Of that, 54% had student loan

debt

Length of delay in years: 5

Amount of debt: $25,000

12%

12%

12%

35%

Home builder

Multiple Listing

Service (MLS)

Realtor.com

Real estate agent &

agent's website

0% 20% 40%

Where Buyer First Found Home

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Mountain

Type of Home Purchased

Single-family, 85%

Townhouse, 7%

Apt/ condo, 1%

Other, 8%

8%

9%

11%

28%

Close to friends &

family

Job relocation

Retirement

Desire to own

0% 10% 20% 30%

Reasons to Purchase Home

12% of buyers bought multi-generational home

Reasons:

Health/caretaking of aging parents-26%

Spend more time w/aging parents-12%

Desire for a larger home-7%

Children over 18 that never left home-5%

Fast Facts of Sellers:

Median Age: 54

90% used an agent /broker to sell

their home

Number one reason to sell home:

Job relocation

16% delayed or stalled their home

sale because their home was worth

less than their mortgage

Median number of weeks to sellhome: 4

Median percent of listing price

received: 98%

For-Sale-By-Owner (FSBO): 9%

Fast Facts of Buyers:

Median Age: 49

Median Income: $77,000

21% are first-time buyers 83% are buyers of previously owned homes

87% bought through an agent/broker

72% Married couple and 13% single females

Median years expected to live in home: 15

22% veterans and 2% active-duty service

2015 Profile of Home Buyers and Sellers

Student Loan Debt

9% had difficulty saving for

downpayment Of that, 45% had student loan

debt

Length of delay in years: 3

Amount of debt: $40,000

7%

9%

12%

44%

Friend, neighbor, or

relative

Other websites

Multiple Listing Service

(MLS)

Real estate agent &agent's website

0% 20% 40% 60%

Where Buyer First Found Home

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Pacific

Type of Home Purchased

Single-family, 82%

Townhouse, 7%

Apt/ condo, 4%

Other, 8%

6%

8%

10%

32%

Job relocation

Closer to friends &…

Larger home

Desire to own

0% 10% 20% 30% 40%

Reasons to Purchase Home

12% bought multi-generational home

Reasons:

Cost savings-24%

Health/caretaking of aging parents-22%

Children over 18 moving back into home-12%

Spend more time w/aging parents-9%

Fast Facts of Sellers: Median Age: 54

95% used an agent/broker to sell

their home

Number one reason to sell home:

Home too small

16% delayed or stalled their home

sale because their home was worth

less than their mortgage

Median number of weeks to sell

home: 2

Median percent of listing price

received: 100%

For-Sale-By-Owner (FSBO): 3%

Fast Facts of Buyers:

Median Age: 45

Median Income: $97,000

30% are first-time buyers

87% are buyers of previously owned homes

91% bought through an agent/broker

68% Married couple and 14% single females

Median years expected to live in home: 10

18% veterans and 3% active-duty service

2015 Profile of Home Buyers and Sellers

Student Loan Debt

15% had difficulty saving for

downpayment Of that, 48% had student loan

debt

Length of delay in years: 3

Amount of debt: $42,000

7%

13%

15%

44%

Yard sign

Other websites

Multiple Listing Service…

Real estate agent &…

0% 10% 20% 30% 40% 50%

Where Buyer First Found Home