What did a home buyer look like in 2010? Every year NAR, the National Association of REALTORS, compiles data and provides us a regional profile of buyers. Our region is the West South Central US which is; Oklahoma, Texas, Arkansas, and Louisiana. Here’s what this year’s data shows us about our neck of the woods;
- Who are they: The average home buyer is 40 years old and has an annual income of $73,600.
- New or Old: 75.6% purchased an existing home while 24.4% purchased new construction.
- Types of homes purchased: 86.7% single family, 4.6% townhome, 2% condo, 1.4% duplex, and 5.3% other
- Why they bought: 27.5% had a desire to own their own home, 9.4% had a change in family situation, 8.5% wanted a larger home, 4.6% sought a better area, 8.9% to take advantage of the tax credit.
- How they bought: 79.4% used a REALTOR, 11% directly from builder, 5.9% directly from FSBO, 3.3% directly from foreclosure or trustee (like a Sheriff’s Sale). .5% other means
These are interesting statistics. What are your thoughts?
Talk to you soon!