Profile of Home Buyers & Sellers
The following is the 2009 Profile of Home Buyers and Sellers from the National Association of Realtors. It is a compilation of the results of 9,138 surveys of buyers and sellers who sold or purchased a home between July 2008 and June 2009. I will be more interested in seeing the July 2009 and forward to better reflect our current Chattanooga market.
47% of buyers were first time buyers.
The median age of all buyers was 39.
83% of all first time buyers are under the age 44.
62% of all buyers are under age 44.
63% of all buyers had no children under the age of 18 residing at home.
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.
77% of buyers purchased their home with an agent.
85% of sellers sold their home with an agent.
87% of buyers view real estate as a good investment.
These, of course, are national statistics. Chattanooga real estate will always vary. We have seen mostly first time home buyers this year at the closing table. Next year should draw a lot more variety of age groups with the additional new stimulus for home sellers who have been in their home for at least 5 years. We should also start to see some benefit from Volkswagen. Best wishes for all of us in 2010.
Barry Evans
Keller Williams Realty
664-1700 Main office 826-4987 e-fax
