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Saturday, November 19, 2011

The 2011 NAR Profile of Home Buyers and Sellers–A few observations

The 2011 National Association of Realtors Profile of Home Buyers and Sellers has some interesting results.
  • The median down payment for all buyers was 11% of the purchase price.
  • Most first time home buyers used savings for down payments. {Other sources to consider like gifts}
  • 64% of buyers are married couples.
  • Buyers searched a median of 12 weeks and visited 12 homes.
  • 51% of homes purchased were in a subdivision or suburb.
  • 89% used real estate agents. (No surprise here, buyers don't pay the Realtor®.)
  • 88% used Internet to research for a home. (If you are selling, check your agent's Internet reach.)
  • 91% of buyers who searched for a home on the Internet used a real estate agent to purchase a home.
  • Of sellers using real estate agents, 80% used full service brokerages/agents.
  • FSBOs accounted for 10%. 
The 2011 National Association of Realtors Profile of Home Buyers and Sellers can be ordered by calling 800-874-6500, or online at www.realtor.org/prodser.nsf/Research. The study costs $19.95 for NAR members and $149.95 for non-members.

If you are considering selling your Brevard County, Florida home, call me at 321-693-3850 or email me.

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