Each year, the National Association of REALTORS® conducts a survey of recent home buyers and sellers, providing insights into detailed information about their experiences. Here are a few highlights from the 2014 report.
- On average, buyers viewed 10 properties during a 10-week time period before choosing their new home. This is two weeks shorter as compared to the previous year’s report.
- First-time home buyers represented 33 percent of all sales, which is down from the historical average of 40 percent.
- The first step in the home-buying process for 43 percent of survey respondents was searching online for houses.
- More than 90 percent of those surveyed looked online in some way during their home search, and 50 percent used a mobile app or website.
- Real estate professionals were seen as an important information source by 98 percent of the buyers who used an agent during their home search.
- Less than 10 percent of sellers successfully sold their home without the assistance of a real estate professional. Of these, 44 percent sold their home to a friend, family member or acquaintance.
- Seventy percent of sellers contacted only one real estate professional before listing their property.
Here is some interesting information. This is good information from my monthly newsletter. If you’d like more information on selling or buying please don’t hesitate to call, email, or text anytime.