Market Watch
Every year the National Association of Realtors (NAR) surveys home buyers and sellers. Last year over 80,000 consumers answered this survey. I use the results of this survey to help understand public perception and my company uses the information when planning marketing efforts. The survey is conducted nationally by NAR and broken down by state. There are always some interesting tidbits and I thought I would share some of this year’s survey results in this Market Watch.
First time buyers accounted for 37% of all purchases compared to 50% in the prior year. Only 16% of purchases were of new homes which makes sense since new home construction was at its lowest level since NAR has been tracking that statistic. The most common first step taken by buyers in the home buying process is to look on the internet. 88% of buyers use the internet in the search process. I’m sure that’s why my company has devoted so many resources to FCTuckerEmge.com. The typical buyer spends 12 weeks from the time they first start a search until they sign a contract and physically look at 12 homes during the process.
The typical seller has lived in their home for 9 years prior to selling. For the homes that sell, the median amount of time on the market was 12 weeks, although 35% of homes sold were on the market for 6 months or longer. The take away from this statistic is that homes priced correctly sell quickly while those that are overpriced languish on the market. 85% of sellers and 89% of buyers hired a Realtor for their transaction. 41% of clients were referred to their Realtor by a friend or relative. Besides wanting to give you the highest level of service I can, you can see that referrals are a key component of every Realtor’s business. Please think of me when you hear of someone thinking about buying or selling a home. If you have any questions about this information or want more detail about other aspects of the home buying or selling process email or give me a call. You can reach me on my cell phone 812-499-9234 or email Rolando@RolandoTrentini.com
No comments:
Post a Comment