Knowing Today's Buyer

Characteristics of Home Buyers

First-time buyers made up 34% of all home buyers, an increase from last year's 31%.

The typical first-time buyer was 33 years old this year, while the typical repeat-buyer age rose to an all-time high of 56 years old

11% of home buyers purchased a multi-generational home, to take care of aging parents, because of children over the age of 18 moving back home, and for cost-saving

14% of recent home buyers were veterans and 3% were active-duty service members.

Where buyers found the home they purchased:

Internet: 51%

Real estate agent: 28%

Yard sign/open house sign: 4%

Friend, relative, or neighbor: 6%

Home builder or their agent: 6%

Directly from sellers/Knew the sellers: 3%

Print newspaper advertisement: 1%

Characteristics of Homes Purchased

Most recent buyers who purchased new homes were looking to avoid renovations and problems with plumbing or electricity at 36% Buyers who purchased previously-owned homes were most often considering a better overall value at 38%.

Buyers typically purchased their homes for 100% of the asking price, with 29% purchasing for more than the asking price

The typical home that was recently purchased was 1,900 square feet, had three bedrooms and two bathrooms, and was built in 1993.

Convenience to family and friends was the second most important factor in influencing neighborhood choice after quality of the neighborhood, surpassing convenience to jobs and affordability, which were more important last year

**Source: 2021 National Association of REALTORS® Profile of Home Buyers and Sellers