2014 Profiles Buyers and Sellers Subregions

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    November 7, 2014

    National Association of REALTORS

    Research Division

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    Survey conducted with recent home buyers whopurchased a home between July 2013June 2014

    Seller information gathered from those home buyers

    who sold a home Mailed 72,206 questionnaires- response rate of 9.4%

    Names obtained from Experian

    Data in the presentation is based on medians or the

    typical buyer in the category and is not allencompassing

    2014 Profile of Home Buyers and Sellers

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    Household Composition of Buyers

    Married, 64%

    Single female, 14%

    Single male, 7%

    Unmarried couple, 13%

    28%

    10%

    7%

    7%

    Desire to own

    Family changes

    Affordability

    Larger home

    % 10% 20% 30%

    Reasons to Purchase Home

    Type of Home Purchased

    Single Family, 75%

    Townhouse, 5%

    Apt/ condo, 12%

    Other, 6%

    10% of buyers bought multi-generational homeReasons:

    Cost savings-24%

    Children over 18 moving back into house-24%

    Health/caretaking of aging parents-24%

    Spend more time w/aging parents-8%

    Fast Facts of Buyers:

    Median Age: 41 Median Income: $100,000

    39% are first-time buyers

    92% are buyers of previously owned homes

    93% bought through an agent/broker

    Fast Facts of Sellers:

    Median Age: 52

    92% used an agent/broker to sell

    their home

    Number one reason to sell home:

    Home too small

    10% delayed or stalled their home

    sale because their home was worth

    less than their mortgage

    Median number of weeks to sellhome: 5

    Median percent of listing price

    received: 97%

    2014 Profile of Home Buyers and Sellers

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    Household Composition of Buyers

    Married, 63%

    Single female, 14%

    Single male, 10%

    Unmarried couple, 12%

    Other, 2%

    24%

    10%

    9%

    9%

    Desire to own

    Larger home

    Home in better area

    Family changes

    % 10% 20% 30%

    Reasons to Purchase Home

    Type of Home Purchased

    Single-family, 75%

    Townhouse, 10%

    Apt/ condo, 11%

    Other, 5%

    11% of buyers bought multi-generational home

    Reasons:

    Cost savings-28%

    Children over 18 moving back into house-24%

    Health/caretaking of aging parents-24%

    Spend more time w/aging parents-8%

    Fast Facts of Buyers:

    Median Age: 41 Median Income: $81,900

    42% are first-time buyers

    92% are buyers of previously owned homes

    89% bought through an agent/broker

    Fast Facts of Sellers:

    Median Age: 52

    87% used an agent/broker to sell

    their home

    Number one reason to sell home:

    Family changes

    10% delayed or stalled their home

    sale because their home was worth

    less than their mortgage

    Median number of weeks to sell

    home: 6

    Median percent of listing price

    received: 96%

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    Household Composition of Buyers

    Married, 61%

    Single female, 21%

    Single male, 9%

    Unmarried couple, 9%

    Other, 1%

    Type of Home Purchased

    Single-family, 79%

    Townhouse, 4%

    Apt/ condo, 10%

    Other, 7%

    29%

    6%

    6%

    6%

    Desire to own

    Larger home

    Family changes

    Home in better area

    % 10% 20% 30% 40%

    Reasons to Purchase Home 10% of buyers bought multi-generational home

    Reasons:

    Cost savings-28%

    Children over 18 moving back into house-25%

    Health/caretaking of aging parents-21%

    Spend more time w/aging parents-10%

    Fast Facts of Buyers:

    Median Age: 39

    Median Income: $78,200

    36% are first-time buyers

    92% are buyers of previously owned homes

    90% bought through an agent/broker

    Fast Facts of Sellers:

    Median Age: 52

    88% used an agent/broker to sell

    their home

    Number one reason to sell home:

    Home too small

    20% delayed or stalled their home

    sale because their home was worth

    less than their mortgage Median number of weeks to sell

    home: 5

    Median percent of listing price

    received: 97%

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    Household Composition of Buyers

    Married, 64%

    Single female, 16%

    Single male, 9%

    Unmarried couple, 10%

    Other, 1%

    Type of Home Purchased

    Single-family, 77%

    Townhouse, 7%

    Apt/ condo, 9%

    Other, 7%

    22%

    13%

    9%

    9%

    Desire to own

    Closer to friends &

    family

    Job relocation

    Larger home

    % 5% 10% 15% 20% 25%

    Reasons to Purchase Home 13% of buyers bought multi-generational homeReasons:

    Children over 18 moving back into house-25%

    Cost savings-23%

    Health/caretaking of aging parents-10%

    Spend more time w/aging parents-3%

    Fast Facts of Buyers:

    Median Age: 40

    Median Income: $76,700 37% are first-time buyers

    90% are buyers of previously owned homes

    88% bought through an agent/broker

    Fast Facts of Sellers:

    Median Age: 51

    81% used an agent/broker to sell

    their home

    Number one reason to sell home:

    Job relocation

    8% delayed or stalled their home

    sale because their home was worth

    less than their mortgage Median number of weeks to sell

    home: 4

    Median percent of listing price

    received: 97%

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    Type of Home Purchased

    Single-family, 76%

    Townhouse, 11%

    Apt/ condo, 7%

    Other, 6%

    Household Composition of Buyers

    Married, 68%

    Single female, 17%

    Unmarried couple, 9%

    Single male, 6%

    Other, 1%

    20%

    8%

    7%

    7%

    Desire to own

    Family changes

    Retirement

    Job relocation

    0% 5% 10% 15% 20% 25%

    Reasons to Purchase Home13% of buyers bought multi-generational home

    Reasons:

    Cost savings-26%

    Children over 18 moving back into house-19%

    Health/caretaking of aging parents-18%

    Spend more time w/aging parents-16%

    Fast Facts of Buyers:

    Median Age: 46

    Median Income: $85,000 29% are first-time buyers

    80% are buyers of previously owned homes

    87% bought through an agent/broker

    Fast Facts of Sellers:

    Median Age: 57

    90% used an agent/broker to sell

    their home

    Number one reason to sell home:

    Move closer to friends & family

    20% delayed or stalled their home

    sale because their home was worth

    less than their mortgage

    Median number of weeks to sell

    home: 5

    Median percent of listing price

    received: 97%

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    Type of Home Purchased

    Single-family, 84%

    Townhouse, 3%

    Apt/ condo, 5%

    Other, 8%

    Household Composition of Buyers

    Married, 65%Single female, 20%

    Single male, 7%

    Unmarried couple, 5%

    Other, 4%

    25%

    18%

    8%

    7%

    Job relocation

    Desire to own

    Home in better area

    Affordability

    0% 10% 20% 30%

    Reasons to Purchase Home17% of buyers bought multi-generational home

    Reasons:

    Children over 18 moving back into house-28%

    Cost savings-28%

    Health/caretaking of aging parents-12%

    Spend more time w/aging parents-3%

    Fast Facts of Buyers:

    Median Age: 46

    Median Income: $72,600

    32% are first-time buyers

    82% are buyers of previously owned homes

    88% bought through an agent/broker

    Fast Facts of Sellers:

    Median Age: 54

    90% used an agent/broker to sell

    their home

    Number one reason to sell home:

    Move closer to friends & family

    13% delayed or stalled their home

    sale because their home was worth

    less than their mortgage

    Median number of weeks to sellhome: 8

    Median percent of listing price

    received: 97%

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    Type of Home Purchased

    Single-family, 91%

    Townhouse, 3%

    Apt/ condo, 2%

    Other, 4%

    Household Composition of Buyers

    Married, 70%

    Single female, 15%

    Single male, 9%

    Unmarried couple, 5%

    Other, 2%

    22%

    9%

    7%

    6%

    Desire to own

    Job relocation

    Family changes

    Home in better

    area

    0% 10% 20% 30%

    Reasons to Purchase Home 15% bought multi-generational home

    Reasons:

    Children over 18 moving back into house-22%

    Cost savings-19%

    Health/caretaking of aging parents-19%

    Spend more time w/aging parents-12%

    Fast Facts of Sellers:

    Median Age: 49

    87% used an agent/broker to sell

    their home

    Number one reason to sell home:

    Job relocation

    14% delayed or stalled their home

    sale because their home was worth

    less than their mortgage Median number of weeks to sell

    home: 3

    Median percent of listing price

    received: 99%

    Fast Facts of Buyers:

    Median Age: 44 Median Income: $90,900

    30% are first-time buyers

    75% are buyers of previously owned homes

    82% bought through an agent/broker

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    Mountain

    Type of Home Purchased

    Single-family, 79%

    Townhouse, 9%

    Apt/ condo, 7%

    Other, 5%

    Household Composition of Buyers

    Married, 63%

    Single female, 16%

    Single male, 12%

    Unmarried couple, 7%

    Other, 3%

    19%

    10%

    7%

    7%

    Desire to own

    Job relocation

    Home in better area

    Desire for newly built

    home

    0% 10% 20%

    Reasons to Purchase Home 15% of buyers bought multi-generational home

    Reasons:

    Children over 18 moving back into house-22%

    Cost savings-19%

    Health/caretaking of aging parents-19%

    Spend more time w/aging parents-12%

    Fast Facts of Sellers:

    Median Age: 56

    89% used an agent /broker to sell

    their home

    Number one reason to sell home:

    Job relocation

    26% delayed or stalled their home

    sale because their home was worth

    less than their mortgage

    Median number of weeks to sellhome: 3

    Median percent of listing price

    received: 99%

    Fast Facts of Buyers:

    Median Age: 48

    Median Income: $78,900

    26% are first-time buyers 83% are buyers of previously owned homes

    88% bought through an agent/broker

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    Pacific

    Type of Home Purchased

    Single-family, 72%

    Townhouse, 11%

    Apt/ condo, 10%

    Other, 6%

    Household Composition of Buyers

    Married, 64%

    Single female, 13%

    Single male, 9%

    Unmarried couple, 11%

    Other, 3%

    26%

    13%

    11%

    6%

    Desire to own

    Home in better area

    Family changes

    Larger home

    0% 10% 20% 30%

    Reasons to Purchase Home 16% bought multi-generational home

    Reasons:

    Health/caretaking of aging parents-26%

    Children over 18 moving back into house-25%

    Cost savings-22%

    Spend more time w/aging parents-6%

    Fast Facts of Sellers:

    Median Age: 56

    90% used an agent/broker to sell their

    home

    Number one reason to sell home:

    Home too small

    20% delayed or stalled their home sale

    because their home was worth less

    than their mortgage

    Median number of weeks to sell home:4

    Median percent of listing price

    received: 99%

    Fast Facts of Buyers:

    Median Age: 44

    Median Income: $96,500

    36% are first-time buyers

    85% are buyers of previously owned homes

    91% bought through an agent/broker

    2014 Profile of Home Buyers and Sellers