Buyer and Seller Trends for 2012 from the NAR

Posted: November 28, 2012 in Real Estate, Real Estate News, Realtors
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Last week the 2012 Profile of Home Buyers and Sellers was release by the NAR.  The profile is the results of a survey the NAR conducts every year from recent home buyers and sellers.  As a real estate agent you will find this data exceptionally valuable.  You will learn about home buyers and sellers experience with the process, what their motivations were to make a move, how and where they found their agent.

Some of the key points are:

  • 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.
  • Only 9 percent of recent sellers sold via FSBO sale. Among FSBO sellers who did not know the buyer prior to the sale—20 percent sold via FSBO because the buyer directly contacted them.
  • Approximately two-thirds of home sellers only contacted one agent before selecting the one to assist with their home sale.

Full article from Realtor.org

Click here to view the highlight of the report

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