- Characteristics of Home Buyers
- 73% of recent buyers did not have a child under the age of 18 in their home. This is the highest share recorded.
- Characteristics of Homes Purchased
- 15% of buyers purchased a new home, and 85% of buyers purchased a previously-owned home.
- The Home Search Process
- Real estate agents played a crucial role, with 86% of all buyers utilizing their services—the highest of all information sources used.
- Home Buying and Real Estate Professionals
- 88% of home purchases were made through a real estate agent or broker, demonstrating the continued importance of agents in the home buying process. 5% of buyers purchased directly from a builder or builder’s agent, and 5% purchased directly from the previous owner.
- Financing the Home Purchase
- 26% of home buyers paid cash for their home, an all-time high for all-cash buyers.
- Home Sellers and Their Selling Experience
- The typical age of home seller was 63 this year, the highest ever recorded.”
- Home Selling and Real Estate Professionals
- 66% of recent sellers used an agent that was referred to them or used an agent they had worked with in the past to buy or sell a home.
- For Sale by Owner (FSBO) Sellers
- 90% of sellers sold with the assistance of a real estate agent, up from 89% last year, and only 6% were FSBO sales. The share of FSBO sellers was a historical low.
What NAR’s Newly Released Profile Says About the Housing Market
More home buyers are using agents than ever before...
