Another year has rolled in, and as they say, hindsight is always 20/20. With that said, the National Association of REALTORS does a handy report for us at the end of the year, to enlighten us about the past 12 months and how the demographics have changed year over year.
These trends include the ages of buyers and sellers, how important characteristics of home preferences have changed, differences in home buying/selling processes, and much more. If you’re curious, here are those facts and figures, and some of them may surprise you!
First-time home buyers in the last year shrunk to an historic low of just 24 percent of all buyers.
First-time home buyers’ median age reached an all-time high of 38 years old. In the 1980s, the typical first-time home buyer was in their late 20s.
Eighty-eight percent of home buyers purchased their homes through a real estate agent or broker.
Ninety percent of sellers sold with the assistance of a real estate agent.
Among all home buyers, 62 percent are married couples, 20 percent are single women, and eight percent are single men.
The typical age of home sellers was 63 this year and is the highest ever recorded.
I love to seek out information about real estate and stay educated about the changes in our market, as I am truly a student of my profession. As always, I would love to earn your business as a buyer or seller, so please call me anytime regarding your real estate needs!
Carmen Hobson
Broker/Owner, Touchstone Real Estate
406.871.8760
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