The National Association of Realtors recently released the 2009 Profile of Home Buyers and Sellers. NAR mailed an eight-page questionnaire in July 2009 to a national sample of 120,038 home buyers and sellers who purchased their homes between July 2008 and June 2009 and were based on deed transfers and other public records. The report compiles the results of 9,138 surveys returned by buyers and sellers who sold or purchased a home between July 2008 and June 2009. Here are some stats that I found interesting: (my comments in italics)• 47% of all buyers were first time buyers, an all time high. Their median age was 30 and median income was $61,600. 83% of them were under the age of 44. Expect these numbers to continue because of the extension of the first time home buyer’s tax credit.
• 62% of first time buyers and 35% of all buyers sited their #1 reason for buying was the desire to be a 
homeowner. 12% said financing their first home was more difficult than expected, 13% of successful buyers said they had previously experienced a purchase agreement that fell through; and 8% had been rejected by a lender. Be sure you are pre-qualified before you begin your property search. I haven’t had a deal fall through this year…allow extra time.
homeowner. 12% said financing their first home was more difficult than expected, 13% of successful buyers said they had previously experienced a purchase agreement that fell through; and 8% had been rejected by a lender. Be sure you are pre-qualified before you begin your property search. I haven’t had a deal fall through this year…allow extra time.• The average age of all buyers was 39, same as last year. We are higher here in Brunswick County.
• 63% of all buyers were empty-nesters. Again I suspect our numbers are higher than that.• 90% of all buyers used the internet to search. This is the highest number I’ve seen yet.
• The average buyer searched for 12 weeks and viewed 12 homes. Among buyers who used an agent, 63 percent selected a buyer’s agent. Wow! You know I like seeing this. I don’t think we have reached that number in Brunswick County but it is heartening to know that buyers are beginning to understand the advantages of buyer agency. All of my clients this year have come from folks seeking representation. Yay!• Home buyers thought the most important services agents offer are helping find the right house, and negotiating sales terms and price. The most commonly cited benefits of using an agent are helping buyers understand the process, pointing out unnoticed features or faults, negotiating better contract terms, and providing a better list of service providers.
• 84% of buyers reported the photos to be the most useful information. Always so important.
• The number one action taken after viewing a home online was to drive by or visit the home. Me too!
• Environmentally friendly features remain a significant factor: 88% of buyers said that heating and cooling costs were important, 72% desired energy efficient appliances, and 69% wanted energy efficient lighting. No surprise here. The Green movement is much more than a trend … it is here to stay.
• 87% of buyers viewed real estate as a good investment … more than stocks. The typical home sold for 95 percent of the listing price, with a median increase over the seller’s original purchase price of $36,000. “Even with price declines in recent years, the typical home seller saw their equity increase 27 percent,” McMillan said.
**** Look for my upcoming year-end report sometime in early January and we’ll see how our Southport area and Brunswick County numbers stack up against some of the stats offered by the NAR.
I am LATE posting my Christmas blog … I will get on that. I have some new pictures to share!
As always, feel free to contact me if you have any questions about the current market or are looking for insight into where the best values are right now.
contact: southportsoundings@gmail.com
© southportsoundings 2009
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