Characteristics of Home Buyers and Homes Sold in 2009
From the National Association of Realtors:
Characteristics of Home Buyers
n Forty-seven percent of recent home buyers were first-time buyers.
n The typical first-time home buyer was 30 years old, while the typicalrepeat buyer was 48 years old.
n The 2008 median household income of buyers was $73,100. Themedian income was $61,600 among first-time buyers and $88,100
among repeat buyers.
n Twenty-one percent of recent home buyers were single females, and 10percent were single males.
n For one-third of recent home buyers, the primary reason for the recenthome purchase was a desire to own a home.
Characteristics of Homes Purchased
n New home purchases were at the lowest level in eight years—down to 18percent of all recent home purchases.
n The typical home purchased was 1,800 square feet in size and was builtin 1991.
n Seventy-eight percent of home buyers purchased a detached singlefamilyhome.
n The median price of home purchased was $210,000 in the Northeast,$158,000 in the Midwest, $175,000 in the South, and $240,000 in the
West.
n When considering the purchase of a home, commuting costs wereconsidered very or somewhat important by 78 percent of buyers.