• Specializing In Helping FirstTime Home Buyers

Compare Listings

2018 Profile Of Home Buyers And Sellers

2018  Profile Of Home Buyers And Sellers

For most home buyers, the purchase of real estate is one of the largest financial transactions they will make. Buyers purchase a home not only for the desire to own a home of their own, but also because of changes in jobs, family situations, and the need for a smaller or larger living area. This annual survey conducted by the NATIONAL ASSOCIATION OF REALTORS® of recent home buyers and sellers provides insight into detailed information about their experiences with this important transaction. Here are highlights from the latest report.

Cover of the 2018 Profile of Home Buyers and Sellers

  • First-time buyers made up 33 percent of all home buyers, a decrease from last year’s 34 percent.
  • Sixty-three percent of recent buyers were married couples, 18 percent were single females, nine percent were single males, and eight percent were unmarried couples.
  • Twelve percent of home buyers purchased a multigenerational home, to take care of aging parents, because of children over the age of 18 moving back home, and for cost-saving.
  • Eighty-seven percent of buyers recently purchased their home through a real estate agent or broker.
  • Ninety percent of buyers would use their agent again or recommend their agent to others.
2018 profile home buyer seller

2018 HBS Highlights by on Scribd

Seventy-eight percent of recent buyers found their real estate agent to be a very useful information source. Click To Tweet
METHODOLOGY In July 2018, NAR mailed out a 129-question survey using a random sample weighted to be representative of sales on a geographic basis to 155,250 recent home buyers. The recent home buyers had to have purchased a primary residence home between July of 2017 and June of 2018. A total of 7,191 responses were received from primary residence buyers. After accounting for undeliverable questionnaires, the survey had an adjusted response rate of 4.6 percent. Respondents had the option to fill out the survey via hard copy or online. The online survey was available in English and Spanish. Consumer names and addresses were obtained from Experian, a firm that maintains an extensive database of recent home buyers derived from county records. Information about sellers comes from those buyers who also sold a home. All information in this Profile is characteristic of the 12-month period ending June 2018, with the exception of income data, which are reported for 2017. In some sections comparisons are also given for results obtained in previous surveys. Not all results are directly comparable due to changes in questionnaire design and sample size. Some results are presented for the four U.S. Census regions: Northeast, Midwest, South, and West. The median is the primary statistical measure used throughout this report. Due to rounding and omissions for space, percentage distributions may not add to 100 percent. Data gathered in the report is based on primary residence home buyers. From the 2017 Investment and Vacation Home Buyer Survey , 70 percent of home buyers were primary residence buyers, which accounts for 4,207,000 homes sold in 2016. Using that calculation, the sample at the 95 percent confidence level has a confidence interval of plus-or-minus 1.15%
Eighty-seven percent of buyers recently purchased their home through a real estate agent or broker. Click To Tweet
img

Jamohl DeWald

One of my greatest joys as a real estate professional is handing over the keys of ownership to a first-time home buyer. As an experienced agent, I understand that preparation is important to avoid missteps with that first home purchase. I’m here to help with navigating the waters of those potential missteps.

Related posts

How To Successfully Invest In Real Estate

If you've been thinking about investing in real estate, here's what you need to do to save you from money headaches before heading out to property shop.

Continue reading
Jamohl DeWald
by Jamohl DeWald

Tips For a Stress-Free Transaction

Tips for a stress-free transaction

Continue reading
Jamohl DeWald
by Jamohl DeWald

Buy VS Rent

Is it time to become a homeowner? Have questions about the process? Let me help guide you! 503.545.4945 (Text/Call)

Continue reading
Jamohl DeWald
by Jamohl DeWald

Leave a Reply

Chat with me, I'm online!
1st Time Home Buyer Specialist