The National Association of REALTORS (NAR) surveys home buyers and sellers on an annual basis, and they have published their findings for 2008. Here is a glimpse at the type of folks buying:
- Married Couples: 61%
- Single Women: 20%
- Single Men: 10%
- Unmarried Couples: 7%
- Other: 2%
- Compared to the past 5 surveys, first-time home buyers accounted for a larger portion of the market share of home purchases (the highest since 2001).
- The share of first-time home buyers has steadily increased since 2006.
- The “typical” first-time buyer was 30 years old.
- The “typical” repeat buyer was 47 years old.
For more information about home buyers and their profiles, read this article from the NAR. It provides interesting information, like what home buyers bought, how they searched for properties, and the role of real estate professionals in their transactions.