Profile of U.S. Home Sellers and Home Buyers in 2011

Each year, the National Association of Realtors (NAR) surveys home sellers   and home buyers about their selling and buying experiences.

Here are the highlights of NAR’s 2011 Home Buyers Profile:

  • Thirty-seven percent of recent home buyers were first-time buyers.
  • The usual purchased homes were built in 1993, with 1,900 square feet, and had two bathrooms and three bedrooms.
  • Forty-six percent of home buyers surveyed said they made sacrifices in order to purchase a home such as reducing expenses on entertainment, clothing and on luxury items.
  • Twenty-three percent of the home buyers reported that mortgage application and approval process was somewhat more difficult than expected.
  • The usual home buyer in 2011 were 45 years old.
  • Sixty-four percent of home buyers were married couples.
  • Eighteen percent of home buyers were single females.

Here are the highlights of NAR’s 2011 Home Sellers Profile:

  • The usual home seller lived in their homes for 9 years.
  • About 50% of home sellers traded up to a higher priced home and larger sized home.
  • Sixty percent of home sellers purchased a newer home.
  • Home sellers sold their homes at 95% of the listing price.
  • Sixty-one percent of home sellers surveyed said they reduced their asking price at least once.
  • Forty-one percent of home sellers offered some kind of incentives to attract home buyers. These incentives include assistance with home warranty policies and closing costs.
  • Ninety-two percent of home sellers reported that their homes were listed or advertised online.
  • When selling their homes, 87% of home sellers were assisted by a real estate agent.

Whether you are a first-time home buyer, first-time home seller, empty nester, thinking about selling a home or buying a home, do contact the Guldi Real Estate Group. In Southern Maryland, the Guldi Group is the number one real estate team.