National Association of Realtors First Time Buyers Survey
Here are some interesting statistics from a recent report put out by the National Association of Realtors. The N.A.R. based these stats on almost 10,000 responses they received from questionnaires mailed out to recent home buyers.
Over the past twelve years, first-time homebuyers were responsible for buying 42% of all the homes purchased in the US. In 2006 that number dipped to 36% but in 2007 it again increased to 39%. 70% of them bought a home because they wanted to own real estate and establish a household.
Living Arrangements Prior to Buying their First Home
- 75% rented an Apartment or Home prior to purchasing
- 18% Lived with Parents
The marital status of first time home buyers is:
- 51% Married Couples
- 11% Unmarried Couples
- 25% Single Female
- 11% Single Male
Medium Age of First-Time Home buyers.
- 52% were age 24-35 years old
- 21% where age 35-44 years old
A majority of them are planning for their financial future. Many say they are concerned about Social Security not being around for them. They don’t expect a free ride so they have been investing.
Purchase Price Range of First-Time Homebuyer
- 38% purchased a home in the price range of $100K to $175K
I hope you have found this information interesting and maybe even helpful to your present situation.
This is a great time to buy. If you’d like to see what’s currently available please give us a call and we can tailor a home search specifically to meet your goals.
We look forward to working with you.
Tim Rushing REALTOR® (209)327-0875 trushing@prucalifornia.com
This entry was posted on July 28, 2008 at 6:00 pm and is filed under Prudential California Realty, Real Estate, Realtor, Tim Rushing, Turlock Agents with tags Add new tag, financing, first time buyers, home buying statistics, home purchasing, home sales, NAR, National Association of Realtors, survey. You can follow any responses to this entry through the RSS 2.0 feed You can leave a response, or trackback from your own site.
