Profile Types of Home Buyers
November 04, 2013NAR Research
Introduction
• Survey conducted with recent home buyers who purchased a home between July 2012– June 2013
• Seller information gathered from those home buyers who sold a home
• Mailed 148,011 questionnaires- response rate of 6.1%
• Names obtained from Experian • Data in the presentation is based on medians
or the typical buyer in the category and is not all encompassing
Demographic Changes Since 20102010 Profile 2011 Profile 2012 Profile 2013 Profile
Median Age 39 45 42 42
Gross HH Income
$72,200 $80,900 $78,600 $83,300
Household Composition
58% married couples, 20% single females, 12% single males, 8% unmarried couples
64% married couples, 18% single females, 10% single males, 7% unmarried couples
65% married couples, 16% single females, 9% single males, 8% unmarried couples
66% married couples, 16% single females, 9% single males, 7% unmarried couples
Children in Home
35% 36% 41% 40%
Own a 2nd Home
14% 19% 19% 19%
Married with KidsHow Buyer Purchased Home
Agent, 86%Builder, 8%Previous Owner, 5%
MedianHousehold
Income$97,800
Median Square Feet
2,370
Desire to own
Larger home
Job relocation
Family changes
0 5 10 15 20 25 30
24
23
14
8
Reasons to Purchase Home
MedianAge37
Type of Home Purchased
Single Family, 91%
Townhouse, 2%
Apt/ condo, 3%
Other, 4%
First-time
buyers; 35%
Repeat buyers,
65%
Single Female How Buyer Purchased Home
Agent, 89%
Builder, 6%
Previous Owner, 5%
Desire to own
Family changes
Affordability
Closer to friends/family
0 5 10 15 20 25 30 35 40
38
9
8
8
Reasons to Purchase Home
Type of Home Purchased
Single-family, 65%
Townhouse, 12%
Apt/ condo, 16%
Other, 8%
MedianHousehold
Income$52,200
MedianAge48
Median Square Feet
1,500
First-time
buyers; 44%
Repeat buyers,
56%
Single MaleHow Buyer Purchased Home
Agent, 88%
Builder, 6%
Previous Owner, 5%
Type of Home Purchased
Single-family, 67%
Townhouse, 12%
Apt/ condo, 14%
Other, 8%
Desire to own
Family changes
Affordability
Closer to friends & family
0 5 10 15 20 25 30 35 40 45
41
9
8
8
Reasons to Purchase Home
MedianAge46
MedianHousehold
Income$66,500
Median Square Feet
1,600
First-time
buyers; 45%
Repeat buyers;
55%
Unmarried CoupleMedian
Household Income$82,100
MedianAge32
Median Square Feet
1,700
How Buyer Purchased a Home
Agent, 91%
Builder, 6%
Previous Owner, 4%
Type of Home Purchased
Single-family, 79%
Townhouse, 9%
Apt/ condo, 6%
Other, 7%
Desire to own
Larger home
Affordability
Family changes
0 10 20 30 40 50 60
51
10
7
7
Reasons to Purchase Home
First-time buy-
ers65%
Repeat buy-
ers35%
First-time Buyers
Type of Home Purchased
Single-family, 77%
Townhouse, 8%
Apt/ condo, 7%
Other, 6%
How Buyer Purchased a Home
Agent, 91%
Builder, 4%
Previous owner, 4%
Desire to own
Affordability
Family changes
Establish a household
0 10 20 30 40 50 60 70
60
8
7
5
Reasons to Purchase Home
MedianHousehold
Income$67,400
MedianAge31
Median Square Feet
1,670
Repeat Buyers
Type of Home Purchased
Single-family, 82%
Townhouse, 6%
Apt/ condo, 7%
Other, 5%
How Buyer Purchased a Home
Agent, 86%
Builder, 8%
Previous Owner, 5%
Larger home
Job relocation
Desire to own
Closer to friends & family
0 2 4 6 8 10 12 14 16 18
16
12
12
9
Reasons to Purchase Home
MedianHousehold
Income$96,000
MedianAge52
Median Square Feet
2,060
Buyers Who Purchased Multi-Generational Housing
Type of Home Purchased
Single-family, 82%Townhouse, 5%Apt/ condo, 6%Other, 7%
How Buyer Purchased a Home
Agent, 87%Builder, 6%Previous Owner, 6%
Desire to own
Larger home
Family changes
Closer to friends/family
0 5 10 15 20 25 30 35 40 45
39
13
8
8
Reasons to Purchase Home
MedianHousehold
Income$85,800
MedianAge50
Median Square Feet
2,150
First-time
buyers; 32%Repeat
buyers; 68%
Reasons for multi-generational home:• Children over 18 moving back into
house-24%• Cost savings-24%• Health/caretaking of aging parents-20%• Spend more time w/aging parents-11%
Buyers who Purchased Senior Housing or in an Active Adult Community
Type of Home Purchased
Single-family, 58%
Townhouse, 10%
Apt/ condo, 18%
Other, 15%
How Buyer Purchased a Home
Agent, 82%
Builder, 13%
Previous Owner, 6%
Desire to own
Retirement
Smaller home
Closer to friends & family
0 5 10 15 20 25
22
18
15
10
Reasons to Purchase Home
MedianHousehold
Income$67,400
MedianAge64
Median Square Feet
1,700
First-time buy-ers; 26%
Repeat buy-ers; 74%
Buyers Who Found Commuting Costs Very Important
Type of Home Purchased
Single-family, 79%
Townhouse, 9%
Apt/ condo, 7%
Other, 6%
How Buyer Purchased a Home
Agent, 90%
Builder, 6%
Previous owner, 4%
Desire to own
Job relocation
Larger home
Affordability
0 5 10 15 20 25 30 35 40
36
10
10
7
Reasons to Purchase Home
MedianHousehold
Income$78,000
MedianAge38
Median Square Feet
1,800
First-time
buyers; 48%
Repeat buyers;
52%
Buyers Who Downsized Their Home
Type of Home Purchased
Single-family, 73%
Townhouse, 9%
Apt/ condo, 12%
Other, 6%
How Buyer Purchased a Home
Agent, 87%
Builder, 8%
Previous owner, 5%
Smaller home
Closer to friends/family
Job relocation
Retirement
0 5 10 15 20 25 30
24
12
12
10
Reasons to Purchase Home
MedianHousehold
Income$83,700
MedianAge60
Median Square Feet
1,730
First-time buyers; 2%
Repeat buyers;
98%
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