Spring is in the air and many homeowners are now gearing up to put their home on the market for sale. If you are a seller who needs to know what buyers think, then this study by the National Association of Realtors is for you. Here is just a few highlights from that study which provides detailed insight into the home buyer's experience.
Here are highlights from that report.
- 66% of recent home buyers were married couples--the highest share since 2001.
- For 42% of home buyers, the first step in the home-buying process was looking online for properties. While fourteen percent of home buyers first looked online for information on the complete home buying process.
- The use of the Internet in the home search process rose slightly to 92%.
- The typical home buyer searched for 12 weeks and viewed 10 homes.
- 88% of buyers purchased their home through a real estate agent or broker. This share steadily increased from sixty-nine percent in 2001.
- 88% of sellers were assisted by a real estate agent when selling their home.
- Two-thirds of home sellers only contacted one agent before selecting the one to assist with their home sale.
- The share of home sellers who sold their home without the assistance of a real estate agent was 9%. 40% knew the buyer prior to home purchase.