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8/20/2019 2015 Profile of Home Buyers and Sellers in Subregions
1/11
November 13, 2015
National Association of REALTORS ®
Research Division
8/20/2019 2015 Profile of Home Buyers and Sellers in Subregions
2/11
» Survey conducted with recent home buyers whopurchased a home between July 2014 – June 2015
» Seller information gathered from those home buyers
who sold a home» Mailed 94,971 questionnaires- response rate of 6.7%
» Names obtained from Experian
» Data in the presentation is based on medians or the
typical buyer in the category and is not allencompassing
2015 Profile of Home Buyers and Sellers
8/20/2019 2015 Profile of Home Buyers and Sellers in Subregions
3/11
6%
9%
11%
36%
Smaller home
Family changes
Larger home
Desire to own
% 10% 20% 30% 40%
Reasons to Purchase Home
Type of Home Purchased
Single Family, 81%
Townhouse, 4%
Apt/ condo, 5%
Other, 10%
11% of buyers bought multi-generational home
Reasons:
Health/caretaking of aging parents-22%
Children over 18 moving back into home-19%
Cost savings-13%
Spend more time w/aging parents-13%
Fast Facts of Buyers:
Median Age: 39
Median Income: $94,000
42% are first-time buyers
93% are buyers of previously owned homes
91% bought through an agent/broker
65% Married couple and 16% single females
Median years expected to live in home: 15
12% veterans and 2% active-duty service
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
17% 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 pricereceived: 97%
For-Sale-By-Owner (FSBO): 8%
2015 Profile of Home Buyers and Sellers
13%
15%
15%
38%
Other websites
Multiple Listing Service
(MLS)
Realtor.com
Real estate agent & agent's
website
0% 10% 20% 30% 40% 50%
Where Buyer First Found Home
Student Loan Debt
19% had difficulty saving for
downpayment
Of that, 51% had student loan
debt Length of delay in years: 5
Amount of debt: $33,000
8/20/2019 2015 Profile of Home Buyers and Sellers in Subregions
4/11
7%
8%
11%
35%
Smaller home
Family changes
Larger home
Desire to own
% 10% 20% 30% 40%
Reasons to Purchase Home
Type of Home Purchased
Single-family, 77%
Townhouse, 10%
Apt/ condo, 5%
Other, 8%
11% of buyers bought multi-generational home
Reasons:
Cost savings-23%
Health/caretaking of aging parents-15%
Children over 18 moving back into home-14%
Children over 18 that never left home-12%
Fast Facts of Buyers:
Median Age: 42
Median Income: $82,700
43% are first-time buyers
93% are buyers of previously owned homes
90% bought through an agent/broker
58% Married couple and 14% single females
Median years expected to live in home: 20
16% veterans and 2% active-duty service
Fast Facts of Sellers:
Median Age: 57
85% used an agent/broker to sell
their home
Number one reason to sell home:
Smaller home
9% 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: 97%
For-Sale-By-Owner (FSBO): 13%
2015 Profile of Home Buyers and Sellers
Student Loan Debt
16% had difficulty saving for
downpayment Of that, 49% had student loan
debt
Length of delay in years: 4
Amount of debt: $27,000
8%
9%
13%
44%
Multiple Listing Service
(MLS)
Other websites
Realtor.com
Real estate agent & agent's
website
0% 10% 20% 30% 40% 50%
Where Buyer First Found Home
8/20/2019 2015 Profile of Home Buyers and Sellers in Subregions
5/11
Type of Home Purchased
Single-family, 84%
Townhouse, 4%
Apt/ condo, 5%
Other, 7%
7%
9%
11%
31%
Smaller home
Family changes
Larger home
Desire to own
% 10% 20% 30% 40%
Reasons to Purchase Home
11% of buyers bought multi-generational home
Reasons:
Health/caretaking of aging parents-18%
Children over 18 moving back into home-14%
Cost savings-11%
Children over 18 that never left home-8%
Fast Facts of Buyers:
Median Age: 39
Median Income: $78,700
37% are first-time buyers
92% are buyers of previously owned homes
87% bought through an agent/broker
62% Married couple and 19% single females
Median years expected to live in home: 15
12% veterans and 1% active-duty service
Fast Facts of Sellers:
Median Age: 53
86% used an agent/broker to sell
their home
Number one reason to sell home:
Home too small
17% 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%
For-Sale-By-Owner (FSBO): 11%
2015 Profile of Home Buyers and Sellers
Student Loan Debt
15% had difficulty saving for
downpayment Of that, 56% had student loan
debt
Length of delay in years: 3
Amount of debt: $30,000
10%
12%
14%
38%
Other websites
Multiple Listing Service
(MLS)
Realtor.com
Real estate agent & agent's
website
% 10% 20% 30% 40%
Where Buyer First Found Home
8/20/2019 2015 Profile of Home Buyers and Sellers in Subregions
6/11
Type of Home Purchased
Single-family, 80%
Townhouse, 5%
Apt/ condo, 3%
Other, 4%
6%
9%
13%
28%
Job relocation
Family Changes
Larger home
Desire to own
% 10% 20% 30%
Reasons to Purchase Home
11% of buyers bought multi-generational home
Reasons:
Cost savings-33%
Health/caretaking of aging parents-8%
Children over 18 moving back into home-3%
Children over 18 that never left home-3%
Fast Facts of Buyers:
Median Age: 36
Median Income: $79,900
40% are first-time buyers
90% are buyers of previously owned homes
87% bought through an agent/broker
72% Married couple and 13% single females
Median years expected to live in home: 10
22% veterans and 1% active-duty service
Fast Facts of Sellers:
Median Age: 46
89% used an agent/broker to sell
their home
Number one reason to sell home:
Job relocation
10% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sellhome: 4
Median percent of listing price
received: 98%
For-Sale-By-Owner (FSBO): 8%
2015 Profile of Home Buyers and Sellers
Student Loan Debt
13% had difficulty saving for
downpayment Of that, 54% had student loan
debt
Length of delay in years: 3
Amount of debt: $50,000
8%
10%
13%
50%
Multiple Listing Service
(MLS)
Other websites
Realtor.com
Real estate agent & agent's
website
% 10% 20% 30% 40% 50% 60%
Where Buyer First Found Home
8/20/2019 2015 Profile of Home Buyers and Sellers in Subregions
7/11
Type of Home Purchased
Single-family, 79%
Townhouse, 12%
Apt/ condo, 4%
Other, 6%
8%
8%
10%
27%
Retirement
Larger home
Job relocation
Desire to own
0% 10% 20% 30%
Reasons to Purchase Home
13% of buyers bought multi-generational home
Reasons:
Health/caretaking of aging parents-26%
Cost savings-13%
Children over 18 moving back into home-12%
Spend more time w/aging parents-8%
Fast Facts of Buyers:
Median Age: 48
Median Income: $89,600
28% are first-time buyers
79% are buyers of previously owned homes
86% bought through an agent/broker
68% Married couple and 16% single females
Median years expected to live in home: 10
21% veterans and 3% active-duty service
Fast Facts of Sellers:
Median Age: 56
91% used an agent/broker to sell
their home
Number one reason to sell home:
Move closer to friends & family
16% 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: 97%
For-Sale-By-Owner (FSBO): 7%
2015 Profile of Home Buyers and Sellers
Student Loan Debt
11% had difficulty saving for
downpayment Of that, 46% had student loan
debt
Length of delay in years: 3
Amount of debt: $15,000
11%
11%
11%
42%
Other websites
Multiple Listing Service
(MLS)
Realtor.com
Real estate agent & agent's
website
0% 10% 20% 30% 40% 50%
Where Buyer First Found Home
8/20/2019 2015 Profile of Home Buyers and Sellers in Subregions
8/11
Type of Home Purchased
Single-family, 81%
Townhouse, 7%
Apt/ condo, 3%
Other, 10%
11%
12%
13%
18%
Closer to friends &
family
Job relocation
Larger home
Desire to own
0% 5% 10% 15% 20%
Reasons to Purchase Home
19% of buyers bought multi-generational home
Reasons:
Children over 18 that never left home-26%
Desire to own a larger home-18%
Health/caretaking of aging parents-16%
Children over 18 moving back into home-12%
Fast Facts of Buyers:
Median Age: 46
Median Income: $73,200
25% are first-time buyers
80% are buyers of previously owned homes
82% bought through an agent/broker
70% Married couple and 15% single females
Median years expected to live in home: 15
22% veterans and 4% active-duty service
Fast Facts of Sellers:
Median Age: 57
75% used an agent/broker to sell
their home
Number one reason to sell home:
Smaller home
10% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sellhome: 9
Median percent of listing price
received: 96%
For-Sale-By-Owner (FSBO): 18%
2015 Profile of Home Buyers and Sellers
Student Loan Debt
9% had difficulty saving for
downpayment
Of that, 58% had student loan
debt
Length of delay in years: 3
Amount of debt: $70,000
10%
10%
10%
40%
Home builder
Friend, neighbor, or relative
Realtor.com
Real estate agent & agent's
website
0% 10% 20% 30% 40% 50%
Where Buyer First Found Home
8/20/2019 2015 Profile of Home Buyers and Sellers in Subregions
9/11
Type of Home Purchased
Single-family, 92%
Townhouse, 3%
Apt/ condo, 1%
Other, 4%
7%
11%
12%
31%
Family changes
Job relocation
Larger home
Desire to own
0% 20% 40%
Reasons to Purchase Home
15% bought multi-generational home
Reasons:
Health/caretaking of aging parents-22%
Cost savings-13%
Children over 18 moving back into home-10%
Spend more time w/aging parents-8%
Fast Facts of Sellers:
Median Age: 54
90% used an agent/broker to sell
their home
Number one reason to sell home:
Upkeep of home too difficult
8% delayed or stalled their home
sale because their home was worth
less than their mortgage Median number of weeks to sell
home: 2
Median percent of listing price
received: 99%
For-Sale-By-Owner (FSBO): 7%
Fast Facts of Buyers:
Median Age: 43
Median Income: $95,000 34% are first-time buyers
71% are buyers of previously owned homes
80% bought through an agent/broker
68% Married couple and 14% single females
Median years expected to live in home: 10
16% veterans and 3% active-duty service
2015 Profile of Home Buyers and Sellers
Student Loan Debt
12% had difficulty saving for
downpayment Of that, 54% had student loan
debt
Length of delay in years: 5
Amount of debt: $25,000
12%
12%
12%
35%
Home builder
Multiple Listing
Service (MLS)
Realtor.com
Real estate agent &
agent's website
0% 20% 40%
Where Buyer First Found Home
8/20/2019 2015 Profile of Home Buyers and Sellers in Subregions
10/11
Mountain
Type of Home Purchased
Single-family, 85%
Townhouse, 7%
Apt/ condo, 1%
Other, 8%
8%
9%
11%
28%
Close to friends &
family
Job relocation
Retirement
Desire to own
0% 10% 20% 30%
Reasons to Purchase Home
12% of buyers bought multi-generational home
Reasons:
Health/caretaking of aging parents-26%
Spend more time w/aging parents-12%
Desire for a larger home-7%
Children over 18 that never left home-5%
Fast Facts of Sellers:
Median Age: 54
90% used an agent /broker to sell
their home
Number one reason to sell home:
Job relocation
16% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sellhome: 4
Median percent of listing price
received: 98%
For-Sale-By-Owner (FSBO): 9%
Fast Facts of Buyers:
Median Age: 49
Median Income: $77,000
21% are first-time buyers 83% are buyers of previously owned homes
87% bought through an agent/broker
72% Married couple and 13% single females
Median years expected to live in home: 15
22% veterans and 2% active-duty service
2015 Profile of Home Buyers and Sellers
Student Loan Debt
9% had difficulty saving for
downpayment Of that, 45% had student loan
debt
Length of delay in years: 3
Amount of debt: $40,000
7%
9%
12%
44%
Friend, neighbor, or
relative
Other websites
Multiple Listing Service
(MLS)
Real estate agent &agent's website
0% 20% 40% 60%
Where Buyer First Found Home
8/20/2019 2015 Profile of Home Buyers and Sellers in Subregions
11/11
Pacific
Type of Home Purchased
Single-family, 82%
Townhouse, 7%
Apt/ condo, 4%
Other, 8%
6%
8%
10%
32%
Job relocation
Closer to friends &…
Larger home
Desire to own
0% 10% 20% 30% 40%
Reasons to Purchase Home
12% bought multi-generational home
Reasons:
Cost savings-24%
Health/caretaking of aging parents-22%
Children over 18 moving back into home-12%
Spend more time w/aging parents-9%
Fast Facts of Sellers: Median Age: 54
95% used an agent/broker to sell
their home
Number one reason to sell home:
Home too small
16% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sell
home: 2
Median percent of listing price
received: 100%
For-Sale-By-Owner (FSBO): 3%
Fast Facts of Buyers:
Median Age: 45
Median Income: $97,000
30% are first-time buyers
87% are buyers of previously owned homes
91% bought through an agent/broker
68% Married couple and 14% single females
Median years expected to live in home: 10
18% veterans and 3% active-duty service
2015 Profile of Home Buyers and Sellers
Student Loan Debt
15% had difficulty saving for
downpayment Of that, 48% had student loan
debt
Length of delay in years: 3
Amount of debt: $42,000
7%
13%
15%
44%
Yard sign
Other websites
Multiple Listing Service…
Real estate agent &…
0% 10% 20% 30% 40% 50%
Where Buyer First Found Home