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 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.
 National Association of REALTORS®, Economists' Outlook BLOG, July 11, 2012