Home Buyer Statistics

Home Buyer Statistics


First Time Buyers vs. Repeat Buyers

First-Time Repeat Buyers
Percent in the Market 35% 65%
Median Age 32 52
Median Household Income $72,000 $98,000
  • The typical home purchased in 2015 was 1,900 square feet in size, was built in 1991, and had three bedrooms and two bathrooms.
  • Among those who financed their home purchase, buyers typically financed 90% of the home price.
  • 88% of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69% in 2001.
  • Where buyer found the home they purchased:
    • Internet: 51%
    • Real estate agent: 34%
    • Yard sign/open house sign: 8%
    • Friend, relative or neighbor: 4%
    • Home builder or their agent: 2%
    • Directly from sellers/Knew the sellers: 1%
    • Print newspaper advertisement: 1%
  • 78% of home buyers surveyed in NAR’s 2016 Community Preference Survey responded that neighborhood quality is more important than the size of the home.  57% would forego a home with a larger yard in favor of a shorter commute.
  • NAR’s 2016 Profile of Buyers’ Home Feature Preferences found that the feature that had the highest dollar value buyers were willing to pay more for was a waterfront property.
  • 53% of home buyers undertook a home improvement project within 3 months of buying, typically spending $4,550 in improvement projects.

*Source: 2016 National Association of REALTORS® Profile of Home Buyers and Sellers


For Sale By Owner (FSBO) Statistics

      • FSBOs accounted for 8% of home sales in 2015. The typical FSBO home sold for $185,000 compared to $240,000 for agent-assisted home sales.
      • FSBO methods used to market home:
        • Yard sign: 33%
        • Friends, relatives, or neighbors: 21%
        • Online classified advertisements: 10%
        • Open house: 21%
        • For-sale-by-owner websites: 7%
        • Social networking websites (e.g. Facebook, Twitter, etc.): 9%
        • Multiple Listing Service (MLS) website: 13%
        • Print newspaper advertisement: 3%
        • Direct mail (flyers, postcards, etc.): 2%
        • Video: 1%
        • None: Did not actively market home: 41%

Most difficult tasks for FSBO sellers:

      • Getting the right price: 18%
      • Preparing/fixing up home for sale: 13%
      • Understanding and performing paperwork: 12%
      • Selling within the planned length of time: 3%
      • Having enough time to devote to all aspects of the sale: 3%

*Source: 2016 National Association of REALTORS® Profile of Home Buyers and Sellers