Buying a home is typically the most expensive, emotionally trying and potentially rewarding purchase many will ever completed.
The National Association of Realtors (NAR) ‘Profile of Home Buyers and Sellers 2012′ digs deep to provides insight into detailed information about buyers’ and sellers’ experiences with this important transaction.
Here are a few highlights, NAR’s report and an infographic, all to put you in the know.
- 39 percent of recent home buyers were first-time buyers, a slight rise from 2011, but closer to the historical norm of 40 percent.
- 65 percent of recent home buyers were married couples – the highest share since 2001. Conversely there was the lowest share of single buyers since 2001.
- For 52 percent of home buyers, the first step in the home-buying process was taken online.
- The typical home buyer searched for 12 weeks and viewed 10 homes — a decline from 12 homes in prior year, which speaks to the tightened inventory in many areas.
- 89 percent of buyers purchased their home through a real estate agent or broker, similar to last year’s report—a share that steadily increased from 69 percent in 2001.
- 88 percent of sellers were assisted by a real estate agent when selling their home.
NAR’s Profile of Home Buyers and Sellers 2012
Mouse over and click the infographic below to enlarge.