A Few Surprises from NAR’s Home Buyer and Seller Profile

One of the best things the National Association of Realtors produces is the annual Profile of Homebuyers and Sellers. Each year, I dig into it to see what nuances I haven’t picked up on, what trends are emerging or dominating, and other tidbits of the homebuyer and seller that I can learn and apply to my practice.

I wrote eight years ago that homebuyers would, whenever we emerge(d) from the recession, focus more on the intrinsic value of a home than they would on perceived equity. I’d say that that has been borne out. 

I know this: I’m more knowledgable and prepared to represent clients thanks to this report.

A few highlights and surprises:

Really? 22% of 18-24 year olds used print? Surprised.

Really? 22% of 18-24 year olds used print?

A bit surprised by the differences between 2013 and 2014 – expected tenure is down … recession ending?

Expected tenure in homes - 2013

and 2014:

?EXHIBIT 2–31 EXPECTED LENGTH OF TENURE IN HOME PURCHASED, FIRST-TIME AND REPEAT BUYERS, AND BUYERS OF NEW AND PREVIOUSLY OWNED HOMES

Honestly, I’m shocked. Shocked by the 33%.

33% Don_t Compromise? Really?

And then this. This is interesting, a bit troubling, and an opportunity to be better than websites. I tell my clients that my goal is to be better than Google/Zillow …

2013 - Usefulness of information sources

In 2014, no real surprises here, but interesting and intriguing trends here.

2014 Usefulness of information sources

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1 Comment

  1. Simon Campbell November 21, 2014 at 12:27

    I would love to see the data on a follow up study on how long buyers actually stay in a home compared with how long they estimate they will stay. Of course, external factors are hard to predict and have a direct bearing on financial stability.

    Reply

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