Profile of a Home Buyer

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!

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