NAR’s 2015 Profile of Home Buyers and Sellers

    2015-profile-home-buyers-infographic

    HIGHLIGHTS

    Characteristics of Home Buyers

    • First-time buyers made up 32 percent of all home buyers, down from 33 percent last year.
    • The typical buyer was 44 years old, and had a median household income of $86,100.
    • Sixty-seven percent of recent buyers were married couples, 15 percent were single females, nine percent were single males, and seven percent were unmarried couples.
    • Thirteen percent of home buyers purchased a multi-generational home to take care of aging parents, for cost savings, and because children over the age of 18 are moving back home.
    • Ninety percent of recent home buyers identified as heterosexual, three percent as gay or lesbian, one percent as bi-sexual, and seven percent preferred not to answer.
    • Eighteen percent of recent home buyers are veterans and three percent are active-duty service members.
    • At 30 percent, the primary reason for purchasing a home was the desire to own a home of their own.

    Home Sellers and Their Selling Experience

    • The typical home seller was 54 years old, with a median household income of $104,100.
    • For all sellers, the most commonly cited reason for selling their home was that it was too small (16 percent), followed by a job relocation (14 percent), and the desire to move closer to friends and family (13 percent).
    • Sellers typically lived in their home for nine years before selling, declining from 10 years in last year’s report.
    • Eighty-nine percent of home sellers worked with a real estate agent to sell their home
    • For recently sold homes, the final sales price was a median 98 percent of the final listing price.
    • Recently sold homes were on the market for a median of four weeks.
    • Thirty-seven percent of all sellers offered incentives to attract buyers.
    • This year, home sellers cited that they sold their homes for a median of $40,000 more than they purchased.
    • Sixty-one percent of sellers were very satisfied with the selling process.
    • Read more

    Source:  National Association of Realtors® 2015 Profile of Home Buyer and Seller

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