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8/10/2019 2014 Profiles Buyers and Sellers Subregions
1/11
November 7, 2014
National Association of REALTORS
Research Division
8/10/2019 2014 Profiles Buyers and Sellers Subregions
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Survey conducted with recent home buyers whopurchased a home between July 2013June 2014
Seller information gathered from those home buyers
who sold a home Mailed 72,206 questionnaires- response rate of 9.4%
Names obtained from Experian
Data in the presentation is based on medians or the
typical buyer in the category and is not allencompassing
2014 Profile of Home Buyers and Sellers
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Household Composition of Buyers
Married, 64%
Single female, 14%
Single male, 7%
Unmarried couple, 13%
28%
10%
7%
7%
Desire to own
Family changes
Affordability
Larger home
% 10% 20% 30%
Reasons to Purchase Home
Type of Home Purchased
Single Family, 75%
Townhouse, 5%
Apt/ condo, 12%
Other, 6%
10% of buyers bought multi-generational homeReasons:
Cost savings-24%
Children over 18 moving back into house-24%
Health/caretaking of aging parents-24%
Spend more time w/aging parents-8%
Fast Facts of Buyers:
Median Age: 41 Median Income: $100,000
39% are first-time buyers
92% are buyers of previously owned homes
93% bought through an agent/broker
Fast Facts of Sellers:
Median Age: 52
92% used an agent/broker to sell
their home
Number one reason to sell home:
Home too small
10% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sellhome: 5
Median percent of listing price
received: 97%
2014 Profile of Home Buyers and Sellers
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Household Composition of Buyers
Married, 63%
Single female, 14%
Single male, 10%
Unmarried couple, 12%
Other, 2%
24%
10%
9%
9%
Desire to own
Larger home
Home in better area
Family changes
% 10% 20% 30%
Reasons to Purchase Home
Type of Home Purchased
Single-family, 75%
Townhouse, 10%
Apt/ condo, 11%
Other, 5%
11% of buyers bought multi-generational home
Reasons:
Cost savings-28%
Children over 18 moving back into house-24%
Health/caretaking of aging parents-24%
Spend more time w/aging parents-8%
Fast Facts of Buyers:
Median Age: 41 Median Income: $81,900
42% are first-time buyers
92% are buyers of previously owned homes
89% bought through an agent/broker
Fast Facts of Sellers:
Median Age: 52
87% used an agent/broker to sell
their home
Number one reason to sell home:
Family changes
10% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sell
home: 6
Median percent of listing price
received: 96%
2014 Profile of Home Buyers and Sellers
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Household Composition of Buyers
Married, 61%
Single female, 21%
Single male, 9%
Unmarried couple, 9%
Other, 1%
Type of Home Purchased
Single-family, 79%
Townhouse, 4%
Apt/ condo, 10%
Other, 7%
29%
6%
6%
6%
Desire to own
Larger home
Family changes
Home in better area
% 10% 20% 30% 40%
Reasons to Purchase Home 10% of buyers bought multi-generational home
Reasons:
Cost savings-28%
Children over 18 moving back into house-25%
Health/caretaking of aging parents-21%
Spend more time w/aging parents-10%
Fast Facts of Buyers:
Median Age: 39
Median Income: $78,200
36% are first-time buyers
92% are buyers of previously owned homes
90% bought through an agent/broker
Fast Facts of Sellers:
Median Age: 52
88% used an agent/broker to sell
their home
Number one reason to sell home:
Home too small
20% delayed or stalled their home
sale because their home was worth
less than their mortgage Median number of weeks to sell
home: 5
Median percent of listing price
received: 97%
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Household Composition of Buyers
Married, 64%
Single female, 16%
Single male, 9%
Unmarried couple, 10%
Other, 1%
Type of Home Purchased
Single-family, 77%
Townhouse, 7%
Apt/ condo, 9%
Other, 7%
22%
13%
9%
9%
Desire to own
Closer to friends &
family
Job relocation
Larger home
% 5% 10% 15% 20% 25%
Reasons to Purchase Home 13% of buyers bought multi-generational homeReasons:
Children over 18 moving back into house-25%
Cost savings-23%
Health/caretaking of aging parents-10%
Spend more time w/aging parents-3%
Fast Facts of Buyers:
Median Age: 40
Median Income: $76,700 37% are first-time buyers
90% are buyers of previously owned homes
88% bought through an agent/broker
Fast Facts of Sellers:
Median Age: 51
81% used an agent/broker to sell
their home
Number one reason to sell home:
Job relocation
8% delayed or stalled their home
sale because their home was worth
less than their mortgage Median number of weeks to sell
home: 4
Median percent of listing price
received: 97%
2014 Profile of Home Buyers and Sellers
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Type of Home Purchased
Single-family, 76%
Townhouse, 11%
Apt/ condo, 7%
Other, 6%
Household Composition of Buyers
Married, 68%
Single female, 17%
Unmarried couple, 9%
Single male, 6%
Other, 1%
20%
8%
7%
7%
Desire to own
Family changes
Retirement
Job relocation
0% 5% 10% 15% 20% 25%
Reasons to Purchase Home13% of buyers bought multi-generational home
Reasons:
Cost savings-26%
Children over 18 moving back into house-19%
Health/caretaking of aging parents-18%
Spend more time w/aging parents-16%
Fast Facts of Buyers:
Median Age: 46
Median Income: $85,000 29% are first-time buyers
80% are buyers of previously owned homes
87% bought through an agent/broker
Fast Facts of Sellers:
Median Age: 57
90% used an agent/broker to sell
their home
Number one reason to sell home:
Move closer to friends & family
20% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sell
home: 5
Median percent of listing price
received: 97%
2014 Profile of Home Buyers and Sellers
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Type of Home Purchased
Single-family, 84%
Townhouse, 3%
Apt/ condo, 5%
Other, 8%
Household Composition of Buyers
Married, 65%Single female, 20%
Single male, 7%
Unmarried couple, 5%
Other, 4%
25%
18%
8%
7%
Job relocation
Desire to own
Home in better area
Affordability
0% 10% 20% 30%
Reasons to Purchase Home17% of buyers bought multi-generational home
Reasons:
Children over 18 moving back into house-28%
Cost savings-28%
Health/caretaking of aging parents-12%
Spend more time w/aging parents-3%
Fast Facts of Buyers:
Median Age: 46
Median Income: $72,600
32% are first-time buyers
82% are buyers of previously owned homes
88% bought through an agent/broker
Fast Facts of Sellers:
Median Age: 54
90% used an agent/broker to sell
their home
Number one reason to sell home:
Move closer to friends & family
13% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sellhome: 8
Median percent of listing price
received: 97%
2014 Profile of Home Buyers and Sellers
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Type of Home Purchased
Single-family, 91%
Townhouse, 3%
Apt/ condo, 2%
Other, 4%
Household Composition of Buyers
Married, 70%
Single female, 15%
Single male, 9%
Unmarried couple, 5%
Other, 2%
22%
9%
7%
6%
Desire to own
Job relocation
Family changes
Home in better
area
0% 10% 20% 30%
Reasons to Purchase Home 15% bought multi-generational home
Reasons:
Children over 18 moving back into house-22%
Cost savings-19%
Health/caretaking of aging parents-19%
Spend more time w/aging parents-12%
Fast Facts of Sellers:
Median Age: 49
87% used an agent/broker to sell
their home
Number one reason to sell home:
Job relocation
14% delayed or stalled their home
sale because their home was worth
less than their mortgage Median number of weeks to sell
home: 3
Median percent of listing price
received: 99%
Fast Facts of Buyers:
Median Age: 44 Median Income: $90,900
30% are first-time buyers
75% are buyers of previously owned homes
82% bought through an agent/broker
2014 Profile of Home Buyers and Sellers
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Mountain
Type of Home Purchased
Single-family, 79%
Townhouse, 9%
Apt/ condo, 7%
Other, 5%
Household Composition of Buyers
Married, 63%
Single female, 16%
Single male, 12%
Unmarried couple, 7%
Other, 3%
19%
10%
7%
7%
Desire to own
Job relocation
Home in better area
Desire for newly built
home
0% 10% 20%
Reasons to Purchase Home 15% of buyers bought multi-generational home
Reasons:
Children over 18 moving back into house-22%
Cost savings-19%
Health/caretaking of aging parents-19%
Spend more time w/aging parents-12%
Fast Facts of Sellers:
Median Age: 56
89% used an agent /broker to sell
their home
Number one reason to sell home:
Job relocation
26% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sellhome: 3
Median percent of listing price
received: 99%
Fast Facts of Buyers:
Median Age: 48
Median Income: $78,900
26% are first-time buyers 83% are buyers of previously owned homes
88% bought through an agent/broker
2014 Profile of Home Buyers and Sellers
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Pacific
Type of Home Purchased
Single-family, 72%
Townhouse, 11%
Apt/ condo, 10%
Other, 6%
Household Composition of Buyers
Married, 64%
Single female, 13%
Single male, 9%
Unmarried couple, 11%
Other, 3%
26%
13%
11%
6%
Desire to own
Home in better area
Family changes
Larger home
0% 10% 20% 30%
Reasons to Purchase Home 16% bought multi-generational home
Reasons:
Health/caretaking of aging parents-26%
Children over 18 moving back into house-25%
Cost savings-22%
Spend more time w/aging parents-6%
Fast Facts of Sellers:
Median Age: 56
90% used an agent/broker to sell their
home
Number one reason to sell home:
Home too small
20% delayed or stalled their home sale
because their home was worth less
than their mortgage
Median number of weeks to sell home:4
Median percent of listing price
received: 99%
Fast Facts of Buyers:
Median Age: 44
Median Income: $96,500
36% are first-time buyers
85% are buyers of previously owned homes
91% bought through an agent/broker
2014 Profile of Home Buyers and Sellers