NAR 2009 Profile of Home Buyers and Sellers

The National Association of Realtors® just released their 2009 Profile of Home Buyers and Sellers. The report summarizes the responses of 9,138 buyers and sellers who bought or sold a home between July 2008 and June 2009.

47% of all buyers were first time buyers.

62% of first time buyers reported that the primary reason for buying a home was the desire to be a homeowner, 35% of all buyers reported that as the number 1 reason.

The median age of all buyers was 39, same as last year.

83% of all first time buyers are under the age 44.

62% of all buyers are under age 44.

68% of the buyers surveyed in the Northeast make less than $100,000 per year.

63% of all buyers had no children residing at home under the age of 18.

Buyers in the Northeast moved an average of 10 miles from where they currently lived.

90% of all buyers used the internet to search.

84% of buyers reported the photos to be the most useful information.

The number one action taken after viewing a home online was to drive by or visit the home.

66% of buyers reported that they used a print ad to search, but only 84% to 90% (depending on the print medium) reported that those sources were "not useful".

36% of buyers found the home they purchased through an agent, 36% found the home they purchased online, less than 3%found the home they purchased in a print ad.

77% of buyers purchased their home with an agent.

85% of sellers sold their home with an agent.

39% of the mortgages were FHA loans.

87% of buyers viewed real estate as a good investment.