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