The National Association of REALTORS recently released some highlights from their 2015 Profile of Home Buyers and Sellers, with a section devoted to characteristics of homes purchased. Did you know:
- Buyers of new homes made up 16% and buyers of previously owned homes made up 84%.
- Most recent buyers who purchased new homes were looking to avoid renovations and problems with plumbing or electricity at 34%. Buyers who purchased previously owned homes were most often considering a better price at 32%.
- Detached single-family homes continue to be the most common home type for recent buyers at 83%, followed by 7% of buyers choosing townhomes or row houses.
- Senior related housing increased this year to 14%, with buyers typically purchasing detached single-family homes.
- There was only a median of 14 miles between the homes that recent buyers purchased and the homes that they moved from.
- Home prices increased slightly this year to a median of $220,000 among all buyers. Buyers typically purchased their homes for 98% of 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 1991.
Are you looking to start the home buying process? Email us at concierge@lizmoore.com, we'd love to help! Or, click below to download our free Home Buyer's Handbook.
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