Post on 07-Jun-2020
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National Association of REALTORS®
2019 Profile of Home Buyers and Sellers
November 2019
A Practical Approach to Knowing
What You Need To Know and Doing
What You Need to Do
Free Highlightshttps://www.nar.realtor/sites/default/
files/documents/2019-profile-of-
home-buyers-and-sellers-
highlights-11-07-2019.pdf
Full Reporthttps://store.realtor.org/produc
t/report/2019-nar-profile-
home-buyers-and-sellers-
download
2019 NAR Profile of Home Buyer and Sellers
Quick Highlights
I Hope You Will Stay For The Rest… The Specifics
1 Out Of 3 (33%) Home Buyers Were First-time Homebuyers
70% Of All Buyers Were Married / Unmarried Couples
20% Of Home Buyers Were Veterans (3% Active Duty)
Only 13% Of Homes Bought Were New Homes
15 Miles Median Distance From Residence To Purchased Home
2019 NAR Profile of Home Buyer and Sellers
Quick Highlights
Median Price Of All Homes Purchased Was $257,000
Only 16% Of All Buyers Contacted A Real Estate Agent As The 1st Step
In The Process
89% Of All Buyers Purchased The Home Through A Real Estate Agent /
Broker
86% Of Buyers Financed The Home Purchase
81% Of Buyers Viewed The Home Purchase As A Good Investment
2019 NAR Profile of Home Buyer and Sellers
I Hope You Will Stay For The Rest… The Specifics
2019 NAR Profile of Home Buyer and Sellers
Age Of Home Buyers
Age Of Home Buyers
FTB All Buyers
25-34 52% 25%
35-44 21% 20%
45-54 9% 15%
55-64 7% 17%
65-74 3% 16%
2019 NAR Profile of Home Buyer and Sellers
HomeFacts.com
2019 NAR Profile of Home Buyer and Sellers
Age Of Home Buyers
Age Of Home Buyers
FTB All Buyers All Buyers
25-34 52% 25% 31% NE 21% W 29% MW 22% S
35-44 21% 20%
45-54 9% 15%
55-64 7% 17%
65-74 3% 16% 10% NE 18% W 15% MW 17% S
2019 NAR Profile of Home Buyer and Sellers
DownPaymentResource.com
2019 NAR Profile of Home Buyer and Sellers
Add It Or Know How To Compete Against It
2019 NAR Profile of Home Buyer and Sellers
Trends Matter
Median Age Of Home Buyers
1989 1999 2009 2019
FTB 30 32 30 33
Repeat Buyer 40 45 49 55
FTB% 38% 42% 47% 33%
2019 NAR Profile of Home Buyer and Sellers
miblog.genworth.com
2019 NAR Profile of Home Buyer and Sellers
Trends Matter
Median Age Of Home Buyers
1989 1999 2009 2019
FTB 30 32 30 33
Repeat Buyer 40 45 49 55
FTB% 38% 42% 47% 33%
Type Of Home Purchased
1989 1999 2009 2019
New 29% 22% 18% 13%
Previously Owned 71% 78% 82% 87%
2019 NAR Profile of Home Buyer and Sellers
Building Homes
Regulations
Tariffs
Workers
Margins
Look At Money
2019 NAR Profile of Home Buyer and Sellers
Median Price New Home $329,750
Median Price Previously
Owned Home $245,000
Look At Money
2019 NAR Profile of Home Buyer and Sellers
Household Income Of Home Buyers
FTB All Buyers
< $100,000 67% 55%
$100,000 - $149,999 22% 24%
$150,000 - $199,999 8% 10%
> $200,000 5% 11%
Median Price New Home $329,750
Median Price Previously
Owned Home $245,000
An Opportunity For You
2019 NAR Profile of Home Buyer and Sellers
Who Is Buying
2019 NAR Profile of Home Buyer and Sellers
Composition Of Home Buyers
All Buyers FTB
Married Couple 61% 53%
Unmarried Couple 9% 17%
Single Female 17% 17%
Single Male 9% 10%
Other 3% 4%
Ethnicity
2019 NAR Profile of Home Buyer and Sellers
Race /Ethnicity of Home Buyer
FTB All Buyers
White 76% 84%
Hispanic 11% 7%
Asian / PI 7% 5%
Black / AA 7% 4%
Others 4% 3%
New Census 2020
2019 NAR Profile of Home Buyer and Sellers
Kids
2019 NAR Profile of Home Buyer and Sellers
# Of Children Under 18 In Home
0 65%
1 15%
2 13%
3+ 7%
What About Furry Feet?
2019 NAR Profile of Home Buyer and Sellers
2019 NAR Profile of Home Buyer and Sellers
https://petlas.world/
2019 NAR Profile of Home Buyer and Sellers
2019 NAR Profile of Home Buyer and Sellers
New Measures
2019 NAR Profile of Home Buyer and Sellers
Home Buyer Sexual Orientation
Heterosexual 91%
Prefer Not To Say 5%
Gay / Lesbian 3%
Bisexual 1%
Self Describe 1%
Home Buyer Identifies As
Transgender
Not Transgender 98%
Not Answered 2%
Transgendered <1%
2019 NAR Profile of Home Buyer and Sellers
Random Stats
91% Home Buyers Born In USA (86% FTB)
96% Home Buyers Speak English At Home
83% Bought DSF (81% FTB) (Pretty Consistent Over Time)
Expected Tenure In Home - 15 Year Median
20% Of All Buyers Say This Is Their Forever Home
Buyers Search Median 10 Weeks And View 9 Homes
63% Buyers Very Satisfied With Home Buying Process
89% Purchased Home Thru Real Estate Professional (69% in 2001)
22% Buyers Received List Of Mortgage Providers From Real Estate Agent
Where Are They Now?
2019 NAR Profile of Home Buyer and Sellers
Prior Living Arrangements FTB
Rented 71%
Live W/FF & $ 11%
LIVE W/FF & N0 $ 12%
RTO 4%
Educational
Opportunity
Where Are They Now?
2019 NAR Profile of Home Buyer and Sellers
Prior Living Arrangements FTB
Rented 71%
Live W/FF & $ 11%
LIVE W/FF & N0 $ 12%
RTO 4%
Median Seller Tenure In Home 10 Years
Distance Between Home Bought
And Sold Median 20 Miles
Median Equity In Home Sold 31%
Why?
2019 NAR Profile of Home Buyer and Sellers
Primary Reason Why Did You Buy?
All Buyers FTB
Desire To Own 29% 64%
Closer To FF 9% 2%
Bigger Home 9% 3%
Change In Family 8% 7%
Job Related 7% 3%
Better Area 7% 2%
Two Thoughts
New Or Previously Owned?
2019 NAR Profile of Home Buyer and Sellers
Why Did You Buy A New Home?
Avoid Repair / Renovation 39%
Customize Features 32%
Amenity of New Home Community 21%
Green 10%
Smart Home 3%
Why Did You Buy A Previously Owned Home?
Better Overall Value 33%
Better Price 31%
Lack Of Inventory Of
New Homes 10%
Opportunity
Not So Much
Mixed Message
Deal Of the Day
Alarm Clock – Music Choice
Dictate Hands Free Text
Message
Make Donations
MyPetDoc
Order Pizza
Recipes
Play Music
Personal Trainer
Check Credit Card Balance
Check Stock Prices
Find Restaurants
Drink Recipes
Meow – Talks To Your Cats
Sound Box
Lights On/Off
TV
Robot Vacuums
Start Your Car
TaskRabbit
Nest
Schedule Meetings
Podcasts
Day In History
Sports Scores
Pregnancy Tips
Meditate
Get First Aid
70,000 Skills
2019 NAR Profile of Home Buyer and Sellers
Where?
2019 NAR Profile of Home Buyer and Sellers
Where Did You Buy?
Suburbs 50%
Small Town 22%
Urban 13%
Rural 13%
What They Care About
2019 NAR Profile of Home Buyer and Sellers
Factors Influencing Buyers
Quality Of Neighborhood 63%
Convenience To Job 46%
Convenience To FF 41%
Close To Shopping 30%
Quality Schools 26%
Good For Pets 18%
Public Transportation 5%
Negotiation
2019 NAR Profile of Home Buyer and Sellers
Purchase Price vs Asking Price
<90% 8%
90%-94% 13%
95%-99% 35%
100% 30%
101%-110% 12%
Negotiate Rate?
They Care
2019 NAR Profile of Home Buyer and Sellers
What's Very Important When Buying?
Commuting Cost 33%
Heating/Cooling Cost 35%
Windows/Doors/Siding 32%
Energy Efficient Appliances 22%
Solar Panels 4%
First Things First
2019 NAR Profile of Home Buyer and Sellers
First Step In Home Buying Process
Looked Online For Properties 44%
Contact Real Estate Agent 16%
Looked Online About Process 12%
Contact Lender 7%
& Friends
First Things First
2019 NAR Profile of Home Buyer and Sellers
First Step In Home Buying Process
Looked Online For Properties 44%
Contact Real Estate Agent 16%
Looked Online About Process 12%
Contact Lender 7%
Where The Buyer Found The Home
2001 2019
Internet 8% 52%
Real Estate Agent 48% 29%
Yard / Open
House Sign 15% 6%
What They Are Using
2019 NAR Profile of Home Buyer and Sellers
Information Sources Very Useful
Online Website 87%
Mobile Device 82%
Real Estate Agent 78%
Open House 40%
Yard Sign 33%
Television 14%
What They Are Using
2019 NAR Profile of Home Buyer and Sellers
Very Useful Website Features
Photos 87%
Detailed Info 85%
Floor Plan 52%
Virtual Tour 42%
Neighborhood Info 40%
Interactive Map 37%
Why Aren’t You Here?
What They Are Doing
2019 NAR Profile of Home Buyer and Sellers
Actions Taken After Internet Home Search
Walk Through Home 65%
Drive Through Neighborhood 41%
Found Real Estate Agent 34%
Pre-Qual Mortgage 20%
Inquired About Mortgage Process 16%
Applied For Mortgage Online 16%
Found Mortgage Lender Online 11%
How They Get To You
2019 NAR Profile of Home Buyer and Sellers
How Buyer Found Real Estate Agent
Referral By FF 41%
Used Agent Previously 12%
Inquire About Property Online 7%
Referral By Other Agent 6%
75% Buyers Would Definitely Use Real Estate Agent Again Or
Recommend
15% Buyers Would Probably Use Real Estate Agent
37% Buyers Never Recommended Real Estate Agent To Others
Asking For Referrals
2019 NAR Profile of Home Buyer and Sellers
Q1 2 4
Q2 4 8
Q3 8 16
Q4 16 32
Q5 32 64
Q6 64 128
Q7 128 306
Q8 306 612
Q9 612 1224
Cheers
2019 NAR Profile of Home Buyer and Sellers
LOGO
HERE
Mortgage Stats
2019 NAR Profile of Home Buyer and Sellers
94% FTB Got A Mortgage With A Median 6% Down
82% Repeat Buyers Got A Mortgage With A Median 16% Down
31% Buyers Found Mortgage Process Much More Or Somewhat More
Difficult Than Expected
5% Buyers Had Been Rejected From Mortgage Lender
35% Due To DTI
21% Due To Low Credit Score
14% Due To Inability To Verify Income
12% Dues To Insufficient Down Payment
Random Mortgage Stats
2019 NAR Profile of Home Buyer and Sellers
39% FTB Had Student Debt (Median Amount $30,000)
89% All Buyers Had Fixed Rate Mortgage
9% Buyers Had A Previously Distressed Property Sale
31% Of Home Sellers Were First Time Home Sellers
Who Is Next?
2019 NAR Profile of Home Buyer and Sellers
Non - Owners Surveyed
Rent 75%
Millennials 49%
Gen X 26%
Married 25%
Median Income $47,500
Who Is Next?
2019 NAR Profile of Home Buyer and Sellers
Non - Owners Surveyed
Rent 75%
Millennials 49%
Gen X 26%
Married 25%
Median Income $47,500
Difficulty To Become A Home Owner
Due To Current Financial Situation
Very Difficult 27%
Somewhat Difficult 30%
Who Is Next?
2019 NAR Profile of Home Buyer and Sellers
Non - Owners Surveyed
Rent 75%
Millennials 49%
Gen X 26%
Married 25%
Median Income $47,500
Difficulty To Become A Home Owner
Due To Current Financial Situation
Very Difficult 27%
Somewhat Difficult 30%
78% Say Home Ownership
Is A Good Financial
Decision
81% Say They Will
Eventually Own
2019 NAR Profile of Home Buyer and Sellers
Contact Info
Steve Richman
steve.richman@genworth.com
919 870.2519
Please Join Me –
LinkedIn: www.linkedin.com/in/steverichman
Facebook: www.facebook.com/ThatMIGuy
2019 NAR Profile of Home Buyer and Sellers
Genworth Rate Express®
2019 NAR Profile of Home Buyer and Sellers
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Genworth Underwriting Guidelines
2019 NAR Profile of Home Buyer and Sellers
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LOS Connections
2019 NAR Profile of Home Buyer and Sellers
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Training Tools and Information
2019 NAR Profile of Home Buyer and Sellers
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Training Tools and Information
2019 NAR Profile of Home Buyer and Sellers
mi.genworth.com
Additional MI Site Information
2019 NAR Profile of Home Buyer and Sellers
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2019 NAR Profile of Home Buyer and Sellers
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2019 NAR Profile of Home Buyer and Sellers