Wednesday, November 23, 2011

What Did Home Buyers Look Like in 2009 and 2010?

Additional information from the National Association of Realtors survey of home buyers and sellers in 2009-2010 demonstrates the following:

  • First-time home buyers were exceptionally strong at 50 percent. First-time buyers were most likely in their thirties.

  • Singles represented a growing segment of home buyers. About 32% of buyers were not married.

  • Median income among first-time buyers was $59,900 and among repeat buyers was $87,000.

  • Buyers typically searched for about three months and saw twelve homes.

  • The vast majority of buyers--83%--purchased through a real estate agent or broker.

  • On overwhelming number of buyers financed their homes: 91%

Again, the Grove Team's experience in 2009 and 2010 mirrored these national trends. On the whole though, the market in Texas was much stronger in 2009 and 2010 and continues to be so in 2011.

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