Some highlights from the National Association Of Realtors (NAR) survey of recent home buyers, which is conducted annually.
– The typical home buyer was 42 years old – the average age of first time buyer was 31, and the typical repeat buyer was 52 years old
– 38% of buyers were first time buyers, down from the historical norm of 40%
– Married couples represented 66% of buyers – the highest share since 2001
– The median income of all buyers was $83,300, first time buyers median income stood at $64,400, and median income for repeat buyers averaged $96,000
– The typical home purchased was 1,900 square feet, was built in 1992, and had 3 bedrooms and 2 bathrooms
– Home buyers who bought previously owned homes perceived their home as a better overall value, and sought the character that an older home provides
– 80% of buyers purchased a detached single family home
– Buyers typically looked at 10 homes, and spent 12 weeks searching for a home
– The Internet was utilized by 92% of buyers in their home search
– 88% of buyers financed their home purchase, and buyers typically financed 90% of the purchase price
Wallingford PA Real Estate – Wallingford, PA 19086
