Characteristics of Homebuyers

Characteristics of Homebuyers

Here are the statistics from NAR on who the homebuyers are. (From 2016)

• First-time buyers made up 35 percent of all home buyers, an increase over last year’s near all-time low of 32 percent.

• The typical buyer was 44 years old again for the third straight year in a row, and the median household income for 2015 rose again this year to $88,500.

• Sixty-six percent of recent buyers were married couples, 17 percent were single females, seven percent were single males, and eight percent were unmarried couples.

• Eleven percent of home buyers purchased a multi-generational home, to take care of aging parents, for cost savings, and because of children over the age of 18 moving back home.

• Eighteen percent of recent home buyers are veterans and two percent are active-duty service members.

• At 31 percent, the primary reason for purchasing a home was the desire to own a home of their own.