November 7, 2014

National Association of REALTORS

Research Division

 Survey conducted with recent home buyers who

purchased a home between July 2013 June 2014
Seller information gathered from those home buyers
who sold a home
Mailed 72,206 questionnaires- response rate of 9.4%
Names obtained from Experian
Data in the presentation is based on medians or the
typical buyer in the category and is not all
encompassing

2014 Profile of Home Buyers and Sellers

Fast Facts of Buyers:

Median Age: 41
Median Income: $100,000
39% are first-time buyers
92% are buyers of previously owned homes
93% bought through an agent/broker

Household Composition of Buyers

Type of Home Purchased

Single Family, 75%

Married, 64%

Townhouse, 5%

Single female, 14%

Apt/ condo, 12%

Single male, 7%

Other, 6%

Fast Facts of Sellers:

Median Age: 52
92% used an agent/broker to sell
their home
Number one reason to sell home:
Home too small
10% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sell
home: 5
Median percent of listing price
received: 97%

Unmarried couple, 13%

Reasons to Purchase Home

Larger home

7%

Affordability

7%

Family changes

10% of buyers bought multi-generational home

Reasons:
Cost savings-24%
Children over 18 moving back into house-24%
Health/caretaking of aging parents-24%
Spend more time w/aging parents-8%

10%

Desire to own

28%
%

10%

20%

30%

2014 Profile of Home Buyers and Sellers

Fast Facts of Buyers:

Median Age: 41
Median Income: $81,900
42% are first-time buyers
92% are buyers of previously owned homes
89% bought through an agent/broker

Type of Home Purchased

Household Composition of Buyers

Single-family, 75%

Married, 63%

Townhouse, 10%

Single female, 14%

Apt/ condo, 11%

Single male, 10%

Other, 5%

Unmarried couple, 12%

Fast Facts of Sellers:

Median Age: 52
87% used an agent/broker to sell
their home
Number one reason to sell home:
Family changes
10% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sell
home: 6
Median percent of listing price
received: 96%

Other, 2%

Reasons to Purchase Home

Family changes

9%

Home in better area

9%

Larger home

11% of buyers bought multi-generational home

Reasons:
Cost savings-28%
Children over 18 moving back into house-24%
Health/caretaking of aging parents-24%
Spend more time w/aging parents-8%

10%

Desire to own

24%
%

10%

20%

30%

2014 Profile of Home Buyers and Sellers

Fast Facts of Buyers:

Median Age: 39
Median Income: $78,200
36% are first-time buyers
92% are buyers of previously owned homes
90% bought through an agent/broker

Household Composition of Buyers

Type of Home Purchased

Married, 61%

Single-family, 79%
Townhouse, 4%

Single female, 21%

Apt/ condo, 10%

Single male, 9%

Other, 7%

Unmarried couple, 9%

Fast Facts of Sellers:

Median Age: 52
88% used an agent/broker to sell
their home
Number one reason to sell home:
Home too small
20% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sell
home: 5
Median percent of listing price
received: 97%

Other, 1%

Reasons to Purchase Home

Home in better area

6%

Family changes

6%

Larger home

10% of buyers bought multi-generational home

Reasons:
Cost savings-28%
Children over 18 moving back into house-25%
Health/caretaking of aging parents-21%
Spend more time w/aging parents-10%

6%

Desire to own

29%
%

10%

20%

30%

2014 Profile of Home Buyers and Sellers

40%

Fast Facts of Buyers:

Median Age: 40
Median Income: $76,700
37% are first-time buyers
90% are buyers of previously owned homes
88% bought through an agent/broker

Household Composition of Buyers

Type of Home Purchased

Single-family, 77%

Married, 64%

Townhouse, 7%

Single female, 16%

Apt/ condo, 9%

Single male, 9%

Other, 7%

Unmarried couple, 10%

Fast Facts of Sellers:

Median Age: 51
81% used an agent/broker to sell
their home
Number one reason to sell home:
Job relocation
8% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sell
home: 4
Median percent of listing price
received: 97%

Other, 1%

Reasons to Purchase Home

Larger home

9%

Job relocation

9%

Closer to friends &

family

13% of buyers bought multi-generational home

Reasons:
Children over 18 moving back into house-25%
Cost savings-23%
Health/caretaking of aging parents-10%
Spend more time w/aging parents-3%

13%

Desire to own

22%
%

5% 10% 15% 20% 25%

2014 Profile of Home Buyers and Sellers

Fast Facts of Buyers:

Median Age: 46
Median Income: $85,000
29% are first-time buyers
80% are buyers of previously owned homes
87% bought through an agent/broker

Household Composition of Buyers

Type of Home Purchased

Single-family, 76%

Married, 68%

Townhouse, 11%

Single female, 17%

Unmarried couple, 9%

Apt/ condo, 7%

Single male, 6%
Other, 6%

Fast Facts of Sellers:

Median Age: 57
90% used an agent/broker to sell
their home
Number one reason to sell home:
Move closer to friends & family
20% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sell
home: 5
Median percent of listing price
received: 97%

Other, 1%

Reasons to Purchase Home

Job relocation

7%

Retirement

7%

Family changes

13% of buyers bought multi-generational home

Reasons:
Cost savings-26%
Children over 18 moving back into house-19%
Health/caretaking of aging parents-18%
Spend more time w/aging parents-16%

8%

Desire to own

20%

0%

5%

10%

15%

20%

25%

2014 Profile of Home Buyers and Sellers

Fast Facts of Buyers:

Median Age: 46
Median Income: $72,600
32% are first-time buyers
82% are buyers of previously owned homes
88% bought through an agent/broker

Household Composition of Buyers

Type of Home Purchased

Single-family, 84%

Married, 65%

Townhouse, 3%

Single female, 20%

Apt/ condo, 5%

Single male, 7%

Fast Facts of Sellers:

Median Age: 54
90% used an agent/broker to sell
their home
Number one reason to sell home:
Move closer to friends & family
13% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sell
home: 8
Median percent of listing price
received: 97%

Unmarried couple, 5%

Other, 8%

Other, 4%

Reasons to Purchase Home

Affordability

17% of buyers bought multi-generational home

Reasons:
Children over 18 moving back into house-28%
Cost savings-28%
Health/caretaking of aging parents-12%
Spend more time w/aging parents-3%

7%

Home in better area

8%

Desire to own

18%

Job relocation

25%
0%

10%

20%

30%

2014 Profile of Home Buyers and Sellers

Fast Facts of Buyers:

Median Age: 44
Median Income: $90,900
30% are first-time buyers
75% are buyers of previously owned homes
82% bought through an agent/broker

Household Composition of Buyers

Type of Home Purchased

Married, 70%
Single-family, 91%

Single female, 15%

Townhouse, 3%

Single male, 9%

Apt/ condo, 2%

Unmarried couple, 5%

Reasons to Purchase Home

7%

Job relocation

15% bought multi-generational home

Reasons:
Children over 18 moving back into house-22%
Cost savings-19%
Health/caretaking of aging parents-19%
Spend more time w/aging parents-12%

6%

Family changes

Other, 2%

Other, 4%

Home in better
area

Fast Facts of Sellers:

Median Age: 49
87% used an agent/broker to sell
their home
Number one reason to sell home:
Job relocation
14% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sell
home: 3
Median percent of listing price
received: 99%

9%

Desire to own

2014 Profile of Home Buyers and Sellers

22%
0%

10%

20%

30%

Mountain

Fast Facts of Buyers:

Median Age: 48
Median Income: $78,900
26% are first-time buyers
83% are buyers of previously owned homes
88% bought through an agent/broker

Household Composition of Buyers

Type of Home Purchased

Married, 63%

Single-family, 79%

Single female, 16%

Townhouse, 9%

Single male, 12%

Apt/ condo, 7%

Unmarried couple, 7%
Other, 5%

7%

Home in better area

7%

Job relocation

Other, 3%

15% of buyers bought multi-generational home

Reasons:
Children over 18 moving back into house-22%
Cost savings-19%
Health/caretaking of aging parents-19%
Spend more time w/aging parents-12%

Reasons to Purchase Home

Desire for newly built
home

Fast Facts of Sellers:

Median Age: 56
89% used an agent /broker to sell
their home
Number one reason to sell home:
Job relocation
26% delayed or stalled their home
sale because their home was worth
less than their mortgage
Median number of weeks to sell
home: 3
Median percent of listing price
received: 99%

10%

Desire to own

19%
0%

10%

20%

2014 Profile of Home Buyers and Sellers

Pacific

Fast Facts of Buyers:

Median Age: 44
Median Income: $96,500
36% are first-time buyers
85% are buyers of previously owned homes
91% bought through an agent/broker

Household Composition of Buyers

Type of Home Purchased

Single-family, 72%

Married, 64%

Townhouse, 11%

Single female, 13%

Apt/ condo, 10%

Single male, 9%

Other, 6%

Unmarried couple, 11%

Fast Facts of Sellers:

Median Age: 56
90% used an agent/broker to sell their
home
Number one reason to sell home:
Home too small
20% delayed or stalled their home sale
because their home was worth less
than their mortgage
Median number of weeks to sell home:
4
Median percent of listing price
received: 99%

Other, 3%

Reasons to Purchase Home

Larger home

16% bought multi-generational home

Reasons:
Health/caretaking of aging parents-26%
Children over 18 moving back into house-25%
Cost savings-22%
Spend more time w/aging parents-6%

6%

Family changes

11%

Home in better area

13%

Desire to own

26%

0%

10%

20%

30%

2014 Profile of Home Buyers and Sellers