| Conjecture abounds in real estate conversations. | | | | Association of REALTORS(R) Profile of Home |
| The best source for up-to-date facts about | | | | Buyers and Sellers.) |
| buying and selling a home is The National | | | | Home sellers. |
| Association of Realtors(R). NAR offers real estate | | | | -The typical homeseller owned their previous |
| journalists a reliable source to report just the | | | | home for 6 years. (Source: 2005 National |
| facts. Here are some fast facts based on their | | | | Association of REALTORS(R) Profile of Home |
| extensive research. | | | | Buyers and Sellers.) |
| Home buyers: | | | | -In the fourth quarter of 2005, the |
| -The typical first-home buyer is 32, and has a | | | | homeownership rate was 69%. (Source: U.S. |
| median income of $57,200. (Source: 2005 National | | | | Housing Market Conditions, Nov. 2005, HUD.) |
| Association of REALTORS(R) Profile of Home | | | | -The typical home stayed on the market for 4 |
| Buyers and Sellers.) | | | | weeks before selling. (Source: 2005 National |
| -According to the 2005 National Association of | | | | Association of REALTORS(R) Profile of Home |
| REALTORS(R) Profile of Home Buyers and | | | | Buyers and Sellers.) |
| Sellers, 79% of all homebuyers used the Internet | | | | -In 2005, when home buyers were asked where |
| as an information source. (Source: 2005 National | | | | they first learned about the house they bought, |
| Association of REALTORS(R) Profile of Home | | | | 36% said real estate agents; 24% responded the |
| Buyers and Sellers.) | | | | Internet, 15% indicated yard signs; 5% said |
| -The typical homebuyer searched for a home for | | | | newspaper advertisement, 7% said friend |
| 8 weeks before making a purchase. (Source: 2005 | | | | neighbor/relatives, 7% said the builder, 1% said |
| National Association of REALTORS(R) Profile of | | | | home book/magazine, 3% knew the seller. |
| Home Buyers and Sellers.) | | | | (Source: 2005 National Association of |
| -The most popular reason for buying a home is | | | | REALTORS(R) Profile of Home Buyers and |
| the desire to own a home of their own, a need | | | | Sellers.) |
| for more space/larger home, new job/relocation | | | | -Recent home sellers lived in their previous home |
| for a job, desire to be closer to a job, school, | | | | on average 6 years.(Source: The 2005 National |
| relatives or transit, need for less space, | | | | Association of REALTORS(R) Profile of Home |
| retirement, and desire for a vacation home | | | | Buyers and Sellers. |
| investment property. (Source: 2005 National | | | | |