2006 NAR Profile of Home Buyers and Sellers
Posted in The National Association of REALTORS® sent out 129,500 surveys to consumers who purchased or sold a home between July 2005 and June 2006. The survey results were compiled and a profile of recent home buyers and sellers was formed. Just over 7500 responses were returned. Some of the noted characteristics of buyers are listed below:
The typical home buyer was 41 years old.
Among first-time buyers, the median age was 32.
More than one-quarter of buyers reported a 2005 household income of at least $100,000.
Sixty-one percent of recent home buyers were married.
For repeat buyers, the most important reason for their purchase was a desire for a larger home.
One in five homes purchased by recent buyers was newly built.
Three-quarters of homes purchased were detached single-family homes.
Neighborhood quality was the most important factor for buyers in selecting a location.
The typical buyer purchased a home that was slightly more than 1,800 square feet in size.
Eighty-five percent of home buyers used a real estate agent during their search for a home.
Nearly three-quarters of buyers viewed the Internet as a very useful tool in their home search.
A majority of buyers reported that they drove by a home viewed online.
Typical buyers searched for eight weeks before finding the home they purchased.
