Fast Real Estate Facts

Conjecture abounds in real estate conversations.Association of REALTORS(R) Profile of Home
The best source for up-to-date facts aboutBuyers and Sellers.)
buying and selling a home is The NationalHome sellers.
Association of Realtors(R). NAR offers real estate-The typical homeseller owned their previous
journalists a reliable source to report just thehome for 6 years. (Source: 2005 National
facts. Here are some fast facts based on theirAssociation 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 ahomeownership rate was 69%. (Source: U.S.
median income of $57,200. (Source: 2005 NationalHousing 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 ofAssociation of REALTORS(R) Profile of Home
REALTORS(R) Profile of Home Buyers andBuyers and Sellers.)
Sellers, 79% of all homebuyers used the Internet-In 2005, when home buyers were asked where
as an information source. (Source: 2005 Nationalthey first learned about the house they bought,
Association of REALTORS(R) Profile of Home36% said real estate agents; 24% responded the
Buyers and Sellers.)Internet, 15% indicated yard signs; 5% said
-The typical homebuyer searched for a home fornewspaper advertisement, 7% said friend
8 weeks before making a purchase. (Source: 2005neighbor/relatives, 7% said the builder, 1% said
National Association of REALTORS(R) Profile ofhome book/magazine, 3% knew the seller.
Home Buyers and Sellers.)(Source: 2005 National Association of
-The most popular reason for buying a home isREALTORS(R) Profile of Home Buyers and
the desire to own a home of their own, a needSellers.)
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 homeBuyers and Sellers.
investment property. (Source: 2005 National