Buyers /On April 29, 2016

Characteristics of Homes Purchased in 2015

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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.

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Lynnette Tully

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