The National Association of Realtors® 2017 Profile of Home Buyers and Sellers offers the following:
First-Time vs. Repeat Buyers:
- First-time buyers: 34%
- Median age of first-time buyers: 32
- Median age of repeat buyers: 54
- Median household income of first-time buyers: $75,000
- Median household income of repeat buyers: $97,000
- The typical home purchased was 1,870 square feet in size, was built in 1991, and had three bedrooms and two bathrooms.
- Among those who financed their home purchase, buyers typically financed 90% of the home price.
- The typical home seller was 55 years of age, had a median household income of $103,300, and lived in their home for 10 years.
- 89% of sellers were assisted by a real estate agent when selling their home.
- Recent sellers typically sold their homes for 99% of the listing price, and 22% reported reducing the asking price at least once.
- The typical home sold was on the market for 3 weeks.
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