Interesting Stats About Home Buyers

Did You Know? Here Are Some Interesting Stats About Home Buyers Today:

• 63% of home buyers are above the age of 39 years old.
  
  

• 21% are above the age of 64 years old.
  
  

• Over 94% of all homebuyers speak English as their primary language at home.
  
  

• Around 12% of buyers aged 29-53 years old were not born in the USA.
  
  

• At least 50% of homebuyers 39 years and older have owned a home prior to buying a new home.
  
  

• The largest percentage of homebuyers seeking a smaller home is above the age of 54 years old.
  
  

• Only around 2% of homeowners wished they had waited before buying a home.
  
  

• 86% of buyers buy existing homes, while 14% buy brand new homes.
  
  

• Over 50% of those aged 39 and under want a brand new home to avoid renovation, maintenance, and repairs.
  
  

• 38% of all buyers feel the same way.
  
  

• 82% of buyers buy a single-family, detached home.
  
  

• The average distance between a home purchased and the prior home is 15 miles. Above 64 years old it doubles, swaying averages. Under the age of 53, its under 11 miles.
  
  

• 58% of buyers said the neighborhood was their primary choice driver, followed by convenience to job sites, affordability, and convenience to friends and family.
  
  

• Just 5% mentioned public transportation.The largest percentage of homebuyers buying a home above $500k were aged between 29-53 years old.
  
  

• 68% of homebuyers bought a house 2,500sf or smaller. 18% bought homes larger than 3,000sf.
  
  

• 66% of the homes bought were older than 17 years.
  
  

• 22% of homebuyers compromised on the price and 20% compromised on the condition. 34% made NO compromises!
  
  

• Homebuyers aged 54-72 years old expect to stay in their homes for at least 20 years.
  
  

• 86% of buyers rely on an agent for information about their home search and 93% relied on online information.
  
  

• The average buyer spent 10 weeks searching and viewed 10 properties.
  
  

• The paperwork and understanding the process accounted for 36% of the most difficult buying steps.
  
  

• 87% of buyers rated photos as the most useful and valuable website feature.
  
  

• At least 60% of buyers were very satisfied with the home buying process.
  
  

• 87% of homebuyers used an agent/broker to buy.
  
  

• Buyers want the following mostly from agents:  help finding the right home, negotiating terms and price.