CENTURY 21® First Time Home Buyers and Sellers Survey

52
First Time Home Buyer & Seller Survey 4.21.10

Transcript of CENTURY 21® First Time Home Buyers and Sellers Survey

Page 1: CENTURY 21® First Time Home Buyers and Sellers Survey

First Time Home Buyer & Seller Survey

4.21.10

Page 2: CENTURY 21® First Time Home Buyers and Sellers Survey

Table of Contents

• Methodology

• Key Findings

• General Findings

• First Time Homebuyer

• First Time Sellers

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• First Time Sellers

• Demographics

Page 3: CENTURY 21® First Time Home Buyers and Sellers Survey

Methodology

• A quantitative study in the form of an online survey was fielded from March 12th to March 16th

• The margin of error for this study is 3.7 percent

• Survey respondents consisted of individuals over the age of 21 who have:

– Purchased their first home within the past year or are currently

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– Purchased their first home within the past year or are currently in the market to buy or plan to buy their first home within in the next year

– Sold their first home within the past year or are in the market to sell or plan to sell their first home within the next year

• The survey yielded a total of 708 completes, 353 of which are first time homebuyers and 355 who are first time home sellers

Page 4: CENTURY 21® First Time Home Buyers and Sellers Survey

Key Findings

• More than 80% of buyers believe now is a good time to buy a home

• Sellers feel it’s a great time to upgrade and/or change neighborhoods due to the current home prices and low mortgage rates

• Buyers and sellers feel the current housing market is more

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• Buyers and sellers feel the current housing market is more affordable today than this time last year

– However, 40% are more worried about the economy now than they were last year

• The majority of buyers and sellers (84%) are well aware of the tax credits available to them

– In fact, 63% of first time homebuyers are motivated to purchase a home due to the available tax credit

Page 5: CENTURY 21® First Time Home Buyers and Sellers Survey

Key Findings

• 85% of buyers and sellers view real estate agents as an important part of the home buying/selling process

• About 70% of sellers and buyers either used or

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• About 70% of sellers and buyers either used or expect to use a realtor to help them buy or sell their home

• First time homebuyers are less confident and need the most help from realtors—60% feel they don’t have a good handle on the real estate process

Page 6: CENTURY 21® First Time Home Buyers and Sellers Survey

Key Findings

• Friends and personal recommendations are the top method for finding a realtor among buyers and sellers

– However, buyers are more prone to advertising as a means of finding a realtor. 13% look at ads in the newspaper, 25% contact realtors through area open

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newspaper, 25% contact realtors through area open house signs and 24% look on listing websites

• Both buyers and sellers agree that trustworthiness, responsiveness and knowledge of an area are important qualities for a realtor to possess

– However, buyers are more apt to find a realtors connections to mortgage brokers and their ability to provide enough quality listings more important than sellers

Page 7: CENTURY 21® First Time Home Buyers and Sellers Survey

General Findings

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Page 8: CENTURY 21® First Time Home Buyers and Sellers Survey

Age of Respondents

Age 1st Time Sellers(353)

A

1st Time Buyers(355)

B

• Not surprisingly, 1st time buyers skew younger than sellers

• 30’s seem to be the point of entry for many in to the housing market

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A B

<30 11.0% 12.5%

30-39 28.2% 35.7%A

40-49 21.7% 27.8%

50-64 31.0%B 21.2%

65+ 8.2%B 2.8%

Q. Which of the following best describes your age?

Page 9: CENTURY 21® First Time Home Buyers and Sellers Survey

Economic Concerns

Q. How concerned are you about the state of the economy?Q. How concerned are you about the state of the economy?Q. How concerned are you about the state of the economy?Q. How concerned are you about the state of the economy?

• Both 1st time buyers and sellers remain concerned about the economy –with almost 90% in both cases reporting some level of concern

• Interestingly, concern levels are the same across the board regardless if you are a buyer or a seller

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2%

12%

50%

36%

3%

12%

49%

37%

Not worried at all Not very worried Somewhat worried

Very worried

Sellers

Buyers

Page 10: CENTURY 21® First Time Home Buyers and Sellers Survey

Concerns on the Rise

40% 43%

Q. How does your current concern about the state of the economy compare Q. How does your current concern about the state of the economy compare Q. How does your current concern about the state of the economy compare Q. How does your current concern about the state of the economy compare to how you felt this time last year?to how you felt this time last year?to how you felt this time last year?to how you felt this time last year?

• Despite the bounce back in the stock exchange, respondent confidence in the economy has worsened, with 40% of both buyers and sellers saying that they are more worried now than they were last year.

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3%

15%

40%

23%

19%

1%

16%

43%

21%19%

Much less worried Somewhat less worried

The Same Somewhat more worried

Much more worried

Seller

Buyer

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• Almost 30% of 1st time home buyers believe that now is a great time to buy a home!

• Likewise, both buyers and sellers agree that buyers are in control, with almost half of 1st time sellers stating that now is a very bad time to have to be selling.

It’s a Buyers Market

7%12%

53%29%

Buyers

Q. In your opinion, how good of a time is it to buybuy a home?

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49%

52%

9%

7%

32%

33%

10%

12%

15%

11%

43%

5%

3%

38%

0% 10% 20% 30% 40% 50% 60%

Sellers2

Buyers2

Column1

SellersVery good time

Somewhat good time

Somewhat not a good time

Not a very good timeQ. In your opinion, how good of a time is it to sellsell a home?

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Housing Affordability

Sellers Buyers

Q. In the current market, how affordable would you say home prices are?

Very affordable 26.8%B 19.0%

• Both Buyers and Sellers agree that housing is more affordable now, with 46% of first time buyer believing that home prices are better this year than last

• Sellers, most likely due to their experience, are more likely to recognize how much more affordable prices are today.

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Very affordable 26.8%B 19.0%

Somewhat affordable 57.7% 60.6%

Not very affordable 13.0% 16.1%

Not affordable at all 2.5% 4.2%

Q. How affordable do you think home prices are now compared to this time last year?

Much more affordable 12.7% 10.8%

Somewhat more affordable 41.7% 35.4%

The same 35.8% 38.5%

Somewhat less affordable 7.6% 13.3%A

Much less affordable 2.3% 2.0%

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Home Prices—Sellers

60%

3 mths

6 mths

• Sellers are not anticipating housing prices will decrease much further and expect that they will begin increasing again by this time next year.

Q. How much do you think home prices will fluctuate over the next 3 months, 6 months, 1 year, 2 years?

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6%

23%

60%

11%

1%

7%

19%

52%

22%

1%

8%10%

31%

48%

4%

9% 8%

19%

49%

15%

Decrease a lot Decrease a little Stay the same Increase a little Increase a lot

6 mths

1 year

2 years

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Home Prices—Buyers

• Buyers also believe that housing prices will rebound in the next year, however it should be noted that they are more likely to believe that prices will modestly drop in the coming months – which may delay them making a purchase decision

Q. How much do you think home prices will fluctuate over the next 3 months, 6 months, 1 year, 2 years?

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5%

25%

60%

10%

0%5%

27%

47%

21%

1%

7%

16%

30%

44%

4%5%10%

20%

46%

19%

Decrease a lot Decrease a little Stay the same Increase a little Increase a lot

3 mths

6 mths

1 year

2 years

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Mortgage Rates

• Both 1st time buyers and sellers believe that mortgage rates are good right now

• Most likely due to their experience, sellers are more likely to find the current rates affordable, and less likely to believe that they are higher vs. a year ago.

How affordable do you think home mortgage Sellers

(355)

Buyer(353)

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How affordable do you think home mortgage rates currently are?

(355)A

(353)B

Very affordable 35%B 21%

Somewhat affordable 51% 58%

Not very affordable 11% 17%A

Not affordable at all 3% 5%

How do you think current home mortgage rates compare to rates from this time last year?

Much/ somewhat lower 39% 37%

Much/ somewhat higher 16% 20%

Page 16: CENTURY 21® First Time Home Buyers and Sellers Survey

Ability to Obtain a Mortgage

• Most respondents feel that getting a mortgage today is fairly difficult, and almost half believe that it’s only going to get worse

• Because many may be going through the process currently, buyers were significantly more likely to find the process very difficult vs. not difficult at all

Not at all Somewhat Very

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How difficult do you think it is to get a mortgage right now?

Not at all difficult

A

Somewhat difficult

B

Verydifficult

C

Sellers (355) 18% 56%AC 26%

Buyers (353) 13% 56%AC 31%A

How difficult do you think it is to get a mortgage now compared to this time last year?

Sellers Buyers

Much/ somewhat more difficult 45% 45%

Much/ somewhat less difficult 15% 13%

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Q. How would you rate your understanding of the real estate process?Q. How would you rate your understanding of the real estate process?Q. How would you rate your understanding of the real estate process?Q. How would you rate your understanding of the real estate process?

Real Estate Process

• First time buyers are significantly more likely to rate their understanding of the real estate process as poor or fair.

– 60% do not feel they have a good handle on the process

• While most buyers and sellers (67%, 68%) find the process to be moderately difficult, 17% of buyers find it to be very difficult vs. 13% of sellers.

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Poor Fair Good Excellent

6%

38%44%

12%13%

47%

34%

7%

Q. How would you rate your understanding of the real estate process?Q. How would you rate your understanding of the real estate process?Q. How would you rate your understanding of the real estate process?Q. How would you rate your understanding of the real estate process?

Seller

Buyer

= statistical

significance

Page 18: CENTURY 21® First Time Home Buyers and Sellers Survey

Importance of a realtor

Q. With the current market, how important is itQ. With the current market, how important is itQ. With the current market, how important is itQ. With the current market, how important is it

• More than 85% of 1st time buyers and sellers feel that using a realtor is important right now

• 70% of sellers and 68% of buyers state that they either used or plan to use a realtor to help them buy or sell their home

• 15% of sellers and 17% of buyers are unsure if they will use a realtor. 15% of each group said that they don NOT plan to use a realtor.

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Not at all important

Somewhat not important

somewhat important

Very important

4%11%

52%

33%

4%

10%

50%

36%

Q. With the current market, how important is itQ. With the current market, how important is itQ. With the current market, how important is itQ. With the current market, how important is itto use a real estate agent?to use a real estate agent?to use a real estate agent?to use a real estate agent?

Sellers

Buyers

Page 19: CENTURY 21® First Time Home Buyers and Sellers Survey

Finding a Realtor

How did you find/ do you expect to find a Seller

(302)

Buyer

(300)

• Not surprisingly, word of mouth remains the highest means in which to find a realtor

• For first time buyers, advertising and website listings has a significantly greater effect.

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realtor?(302)

A

(300)

B

Through friends/ personal recommendations 58% 61%

Ratings on sites like Angie’s list 4% 4%

Calling realtor offices with good reputations 29% 29%

Contacting listing realtors on area open house signs 14% 25%A

Contacting realtors on listing websites 12% 24%A

Ads in newspapers 6% 13%A

Social networks 2% 4%

Sample: those who stated they either used or planned to use a realtor

Page 20: CENTURY 21® First Time Home Buyers and Sellers Survey

Needed Skills in a Realtor

Which of the following qualities do you think are most important when finding a realtor?

Seller

(355)

A

Buyer

(353)

B

Strong financial knowledge 27% 28%

• Knowledge of the area, trust and responsiveness are the top skills valued in realtors for both buyers and sellers.

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Connections to mortgage brokers 21% 28%A

Experience 56% 54%

Responsive 56% 60%

Trustworthy 67% 70%

Knowledge of the area 62% 59%

Negotiating skills 40% 41%

Good reputation 54% 57%

Having enough quality listings 23% 36%A

Page 21: CENTURY 21® First Time Home Buyers and Sellers Survey

Resources Used

• Real estate agents – both in person and via the web –are top resources for buyers

Q. Please indicate whether you are currently or planning to use the following resources

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35% 35% 34%27% 25% 23%

6% 3%9%

6%

20% 17%

34%41%

29% 30%

39% 43%56%

57%

38% 44%

17%16%

20% 24%

31%27%

31%

48%

47% 47%

Friends or Family

Local Realtor

Area Newspapers

Real Estate Blogs

Books Aggregator Sites (i.e. zillow)

Realtor Websites (C21)

WOM

Currently Use Expect to UseSellers:

Buyers: Currently Use Expect to Use

Page 22: CENTURY 21® First Time Home Buyers and Sellers Survey

Distance Planning to Move

21%15%Within 5

Sellers

Buyers

Q. Which of the following best describes how far (distance) you have moved or intend to move?

• The majority of respondents have moved or intend to move more than 10 miles, but less than 50 miles from where they previously lived

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7%

11%

4%

4%

32%

21%

21%

5%

18%

7%

9%

29%

17%

15%

Does not apply

>300

>100 but <300

>50 but <100

>10 but <50

> 5 but <10

Within 5

Miles Away from

Previous Home

Buyers

= statistical significance

Page 23: CENTURY 21® First Time Home Buyers and Sellers Survey

First Time Homebuyers

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Page 24: CENTURY 21® First Time Home Buyers and Sellers Survey

First Time Homebuyer Tax Credit

•84% of first time buyers are aware of the first time homebuyer tax credit

•64% of those who state they are in the market

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•64% of those who state they are in the market for their first home say they qualify for this credit

– 21% are unsure or prefer not to say

Page 25: CENTURY 21® First Time Home Buyers and Sellers Survey

Home Buying Influencers

66% 63%

Q. How much did the following factors influence Q. How much did the following factors influence Q. How much did the following factors influence Q. How much did the following factors influence your decision to buy a home your decision to buy a home your decision to buy a home your decision to buy a home

• The current housing prices were the biggest reason for new buyers to enter the market, followed closely by both the homebuyer tax credit and interest rates.

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0%

10%

20%

30%

40%

50%

60%

70%

Investment Opportunity

Family needs Current housing prices

Homebuyer tax credit

Low interest rates

34% 36%

66% 63%60%

41% 42%

11%18% 15%

Top 2 box Bottom 2 box

Note: Based off a 5pt scale where 5= “greatly influenced” and 1= “did not influence at all”

Page 26: CENTURY 21® First Time Home Buyers and Sellers Survey

Intent to Purchase a Home Under Unique Circumstances

Q. Did you buy or are you planning to buy a home that is…?

• Only roughly one-quarter of first time homebuyers plan to purchase or have purchased a home under a short sale agreement or in foreclosure

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16%10%

16% 16%

42%

In Foreclosure Under Short Sale Agreement

A Fixer-upper A New Construction

None of the Above

Page 27: CENTURY 21® First Time Home Buyers and Sellers Survey

Factors of Importance When Buying a Home

Q. How important are the following factors when purchasing a home?

Top 2 Box Bottom 2 Box

Finding a good school system 41% 45%45%

• Finding a home within a buyers price range is extremely important (95%), as is a neighborhoods safety (90%)

• First time homebuyers are least concerned with living close to public transportation and finding a good school system

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Finding a home within my price range 95%95% 2%

Living close to public transportation 24% 54%54%

Living close to family 34% 38%

Size of home 77% 4%

Size of yard/land 65% 11%

Proximity to local shops & restaurants 57% 13%

Safety of neighborhood 90%90% 2%

Amount of property tax 73% 4%

Distance to either your job site or your partners 61% 15%

Note: Based off a 5pt scale where 5= “very important” and 1= “not at all important”

Page 28: CENTURY 21® First Time Home Buyers and Sellers Survey

Concerns for First Time Homebuyers

• Over half of first time homebuyers are more concerned with securing an affordable mortgage rate than actually being approved for a mortgage

Q. How worried are you or were you about the following? Top 2 Box Bottom 2 Box

Getting approved for a mortgage 47% 30%30%

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Note: Based off a 5pt scale where 5= “very worried” and 1= “not at all worried”

Getting approved for a mortgage 47% 30%30%

Securing an affordable mortgage rate 52%52% 24%

Having enough money for a down payment 48% 32%32%

Not paying too much for a property 49%49% 26%

Finding a property in good condition 47% 27%

Home prices beginning to rise if I don’t purchase a home soon 47% 24%

Suffering a loss of income (through unemployment or a pay cut) 45% 29%

Finding a property in the location that I wanted 47% 28%

Dealing with the paperwork involved 41% 29%

Page 29: CENTURY 21® First Time Home Buyers and Sellers Survey

Home Buying Time Frame

29%

Time Spent Searching for a Home

43%

Time Spent Considering the Purchase of a Home

• Almost half (43%) of first time homebuyers are carefully considering buying before actually beginning to engage in the search process

• 56% of first time homebuyers have spent up to six months actively searching for a home

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16%18%

22%

7% 8%

< 1 mo 1-3 mo 4-6 mo

7-9 mo

10-12 mo

> 12 mo

6%

13%

21%

7%10%

< 1 mo 1-3 mo 4-6 mo

7-9 mo

10-12 mo

> 12 mo

Q. How long did you think about buying a home

before you actually started to engage in the process?Q. How long did you search/have you been

actively searching for a home?

Page 30: CENTURY 21® First Time Home Buyers and Sellers Survey

Length of Time Buyers Plan to Reside in Home

• First time homebuyers are looking for a home they can reside in for an extensive period of time

– 61% plan to live in their first home for at least 10 years before selling

44%

Q. How long do you expect to live in

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2%

19% 18% 17%

Q. How long do you expect to live in your first home before selling?

Less than

1 yr

At least

3 yrs

At least

7 yrs

At least

10 yrs

More than

10 yrs

Page 31: CENTURY 21® First Time Home Buyers and Sellers Survey

Locations & Types of Homes Being Purchased

81%

What type of home did you purchase or are you currently interested in

purchasing?53%

What type of area are you planning on purchasing a home in?

• The majority of first time homebuyers (81%) are searching for a single family home • Over half of all first time homebuyers (53%) are interested in purchasing a home in the suburbs

• Cities are the second most sought out area to purchase a home in (30%)

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13% 14%

81%

3% 4%

Condo/ Apartment

Townhouse Single Family Home

Two Family Home

Other

30%

53%

24%

4%

City Suburb More rural Not sure

Page 32: CENTURY 21® First Time Home Buyers and Sellers Survey

Locations & Types of Homes Being Purchased, cont.

57%

48%45%

57%54%

64%

54%

46%

• 64% of first time homebuyers are looking to purchase a two family home in the suburbs

• Condos/apartments and townhouses are mainly appealing to buyers looking to purchase a home in the city

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11%

2%

45%

12%

2%

29%27%

4%

18%

36%

18%

8%

46%

0%

City Suburb More rural area Not sureCondo/Apartment Townhouse Single Family Home Two Family Home Other

Q. What type of home did you purchase or are you currently interested in purchasing?

Q. What type of area are you planning on purchasing a home in?

Page 33: CENTURY 21® First Time Home Buyers and Sellers Survey

First Time Home Sellers

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Page 34: CENTURY 21® First Time Home Buyers and Sellers Survey

Move-Up/Repeat Homebuyer Tax Credit

•84% of first time sellers are aware of the move-up/repeat homebuyer tax credit

•33% of those who state they are in the market

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•33% of those who state they are in the market for their second home say they qualify for this credit

– 24% are unsure or prefer not to say

Page 35: CENTURY 21® First Time Home Buyers and Sellers Survey

Reasons for Selling

• First time home sellers are placing their homes on the market for a varied of reasons

26% 25% 26%

Q. Why did you/are you selling your home?

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26%23%

14%

25% 26%

18%

Upgrading Downsizing Job Transfer

Changing Neighborhoods

Lifestyle Change

Other

Page 36: CENTURY 21® First Time Home Buyers and Sellers Survey

Deciding to Sell

Q. How did the following factors influence your decision to sell your home? Top 2

Bottom 2

• Deciding to sell a home is still largely based on personal and family related reasons (48%)

• The current housing prices are also motivating sellers (48%)

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Investment opportunity

Family reasons

Current housing prices

Move-up/repeat homebuyer tax credit

Low interest rates

25%

48% 48%

17%

37%

56%

33%41%

63%

40%

Bottom 2

Note: Based off a 5pt scale where 5= “greatly influenced” and 1= “did not influence at all”

Page 37: CENTURY 21® First Time Home Buyers and Sellers Survey

Decisions Based on Reasons to Sell

48% 50% 46%44%

65%

48%

43%

56%

42%

Greatest Influence (Top 2 Box)Greatest Influence (Top 2 Box)Greatest Influence (Top 2 Box)Greatest Influence (Top 2 Box)

• The current home prices have influenced 50% of sellers to upgrade their home and 37% to change neighborhoods

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32%

18%

28%

44%

31%27%

34%31%

37%

23%24%

30%

37%

20%

43%

22% 24%

15%

31%

11%

42%

17%

9%

25%

Investment Opportunity

Family Reasons Current Housing Prices Move-up Homebuyer Tax Credit

Low Interest Rates

Upgrading Downsizing Job Transfer Changing Neighborhoods Lifestyle Change Other

Q. How did the following factors influence your decision to sell your home? / 5pt scale, 5=“greatly influenced” and 1= “did not influence at all”

Q. Why did you/are you selling your home?

Page 38: CENTURY 21® First Time Home Buyers and Sellers Survey

Preparations to Sell Home

Q. Which of the following activities did you do or are you

• When preparing to put a home on the market, the internet is an important tool that’s frequently utilized by sellers

• 55% look at listing prices of homes on real estate sites, while another 41% get specific estimates on their home or will look at comparable homes online

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23%

45%

41%

55%

22%

None of the above

Have my realtor pull area comps

Go online to get a specific estimate on my home or look at comparable homes

Look at listing prices of homes on real estate websites

Visit other local open houses

Q. Which of the following activities did you do or are you currently doing to prepare your home for market?

Page 39: CENTURY 21® First Time Home Buyers and Sellers Survey

Potential Concerns

Q. How concerned are you/were you with the following issues when putting your house on the market?

Top 2 Box

Bottom 2 Box

Listing too high 26% 34%

Listing too low 37% 34%

• Sellers are mainly concerned about losing money on the sale of their home and getting offers near their asking price

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Listing too low 37% 34%

Realtor not being aggressive enough in getting qualified buyers 39% 30%

Getting offers near my asking price 67%67% 13%

Selling my home within a specific time frame 56% 20%

House being in the right condition to be put on the market 49% 29%

Finding a property to move in to within a reasonable time 41% 39%

Problems with the close of sale due to appraisals 34% 34%

Buyers ability to get a mortgage 54% 18%

Losing money on the sale 57%57% 21%

Note: Based off a 5pt scale where 5= “very concerned” and 1= “not at all concerned”

Page 40: CENTURY 21® First Time Home Buyers and Sellers Survey

Home Selling Time Frame

42%Years Spent in 1Years Spent in 1Years Spent in 1Years Spent in 1stststst Home Home Home Home

Before SellingBefore SellingBefore SellingBefore Selling

• A little less than half of sellers (42%) have lived in their homes for over 10 years

• Half of all sellers haven’t yet placed their home on the market, but plan to within the next 12 months

50%

Length of Time Home Has Length of Time Home Has Length of Time Home Has Length of Time Home Has Been on MarketBeen on MarketBeen on MarketBeen on Market

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8%

18% 16% 16%

1-3 yrs

3-5 yrs

5-7 yrs

7-10 yrs > 10 yrs

10% 10% 11%6%

3%

10%

< 1 mo 1-3 mo

4-6 mo

7-9 mo

10-12 mo Over 12 mo

Not on market

yetQ. How long did you/have you lived in your

home prior to placing it on the market?Q. How long has your home been on the

market?

Page 41: CENTURY 21® First Time Home Buyers and Sellers Survey

Location & Types of Homes Being Sold

• The majority of sellers (80%) have sold or are planning to sell a single family home

• 54% are selling or planning to sell a home located in the suburbs

What type of home did you sell or are you currently trying to sell?

54%

What type of area is/was your home located in?

Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 4141

9% 7%

80%

1% 3%

Condo/ Apartment

Townhouse Single Family Home

Two Family Home

Other

24%

54%

20%

2%

City Suburb More rural Not sure

Page 42: CENTURY 21® First Time Home Buyers and Sellers Survey

Locations & Types of Homes Being Sold, cont.

52%

65%

54%

• Over half of sellers (54%) owned a home in the suburbs which they’re now trying to sell

• Townhouses, condos/apartments and single family homes are the primary types of homes to be placed on the market

Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 4242

39%

7%3%

31%

4%0%

22%24%

1%

33% 33% 33%

0%

30%

20%

10%

40%

City Suburb Rural Area Not Sure

Cond/Apartment Townhouse Single Family Home Two Family Home Other

Q. What type of home did you sell or are you currently trying to sell?Q. What type of area is/was your home located in?

Page 43: CENTURY 21® First Time Home Buyers and Sellers Survey

Demographics

Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 43

Page 44: CENTURY 21® First Time Home Buyers and Sellers Survey

Gender

SellersSellersSellersSellers BuyersBuyersBuyersBuyers

Q. Are you male or female?

Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 4444

Male41%Female

59%

Male35%

Female65%

Page 45: CENTURY 21® First Time Home Buyers and Sellers Survey

Q. What is your current marital status?

SELLERS BUYERS

Marital Status

Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 4545

Single (never married)16%

MarriedMarriedMarriedMarried63%63%63%63%

Divorced/separated15%

WidowedWidowedWidowedWidowed6%6%6%6%

Single Single Single Single (never (never (never (never married)married)married)married)33%33%33%33%

Married48%

Divorced/separated17% Widowed

2%

= statistical significance

Page 46: CENTURY 21® First Time Home Buyers and Sellers Survey

Children

• The majority of Sellers and Buyers don’t have children living with them

Q. Do you have any children under the age of 18 living at your home with you?

SellersSellersSellersSellers BuyersBuyersBuyersBuyers

Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 4646

Yes35%No

65%

SellersSellersSellersSellers

Yes37%

No63%

BuyersBuyersBuyersBuyers

Page 47: CENTURY 21® First Time Home Buyers and Sellers Survey

Number of Children

40%

33%33%37%

Sellers

Buyers

Q. How many children live in your household?

Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 4747

1 Child2

Children 3 Children 4

Children 5 Children 6+

Children

15%

8%

2%2%

16%

12%

1% 1%

Page 48: CENTURY 21® First Time Home Buyers and Sellers Survey

Ethnicity

87%

76%

Sellers

Buyers

Q. Which best describes your ethnicity?

Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 4848

4% 2% 5%1% 1%

8% 5% 8%2% 1%

Caucasian African American

Hispanic/ Latino

Asian American

Other Prefer not to answer

= statistical significance

Page 49: CENTURY 21® First Time Home Buyers and Sellers Survey

Household Income

Q. Which of the following categories best describes your annual household income before taxes?

• The majority of buyers and sellers earn a household income between $30,000 and $74,999

Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 4949

14%

21% 22%

17%

9% 10%7%

17%

29%

25%

12%

5% 6% 6%

Under $30K $30K-$49,999 $50K-$74,999 $75K-$99,999 $100K-$125K $125K+ Prefer not to answer

Sellers

Buyers

Page 50: CENTURY 21® First Time Home Buyers and Sellers Survey

Employment Status

• There are almost twice as many retired or semi-retired sellers than buyers

Unemployed5%

Other3%

SellersSellersSellersSellers

Unemployed

Other4%

BuyersBuyersBuyersBuyers

Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 5050

Full time58%

Part time11%

Homemaker9%

Retired or semi-retired

14%

5%

Full time61%

Part time11%

Homemaker9%

Retired or semi-retired

8%

Unemployed7%

Q. Which of the following best describes your current employment status?

= statistical significance

Page 51: CENTURY 21® First Time Home Buyers and Sellers Survey

Education

35%32%

37%

33%Sellers

Buyers

Q. What is the highest level of education that you’ve completed?

Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 5151

1%

11%

20%

1%1%

11%

18%

0%

Some High School

High School Graduate

Some College or Trade School

Bachelor's Degree

Post Graduate Degree

Prefer Not to Answer

Page 52: CENTURY 21® First Time Home Buyers and Sellers Survey

Thank you.