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.
