CapRelo Blog

Who Are Home Buyers Today?

Posted by Tamara Bianchi on Tue, Aug 28, 2012

Each year, the National Association of REALTORS® Profile of Home Buyers and Sellers survey provides the latest demographics, preferences and experiences of recent home buyers and sellers. Highlights from the 2011 Characteristics of Home Buyers[1] can help you see the challenges your relocating employees face in the real estate market:

  • First-time home buyers make up 37% of the market, a drop from 50% in 2010.
  • Typical home buyers are 45 years old, a jump from 39 years old in 2010.
  • The 2010 median household income of buyers was $80,900. The median income was $62,400 among first time buyers and $96,600 among repeat buyers.
  • Married couples accounted for 64% of recent home buyers - the highest share since 2001. Eighteen percent of recent home buyers were single females - the lowest share since 2004.
  • Most home buyers searched for 12 weeks and viewed 12 homes before purchasing.
  • The typical For Sale by Owner home sold for $150,000 compared to $215,000 among agent-assisted home sales.
  • About half of home sellers traded up to a larger sized and higher priced home and 60% purchased a newer home.
  • Sixty one percent of recent sellers reported they reduced their asking price at least once and sold their homes for 95% of the listing price.

[1] National Association of REALTORS®, Economists' Outlook BLOG, July 11, 2012

Topics: employee retention, Home Buyers, employee transfer, talent management

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