Profile of Home Buyers in Sub-regions

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Presentation transcript:

Profile of Home Buyers in Sub-regions November 04, 2013 NAR 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

11% bought multi-generational home New England Median Household Income $88,700 Median Age 38 11% bought multi-generational home Reasons: Cost savings-29% Children over 18 moving back into house-23% Health/caretaking of aging parents-23% Spend more time w/aging parents-7%

12% bought multi-generational home Middle Atlantic Median Household Income $86,800 12% bought multi-generational home Reasons: Cost savings-33% Children over 18 moving back into house-28% Health/caretaking of aging parents-18% Spend more time w/aging parents-11% Median Age 41

11% bought multi-generational home East North Central Median Household Income $75,600 Median Age 40 11% bought multi-generational home Reasons: Children over 18 moving back into house-26% Cost savings-23% Health/caretaking of aging parents-14% Spend more time w/aging parents-11%

12% bought multi-generational home West North Central Median Household Income $71,300 Median Age 36 12% bought multi-generational home Reasons: Children over 18 moving back into house-38% Health/caretaking of aging parents-20% Cost savings-15% Spend more time w/aging parents-14%

12% bought multi-generational home South Atlantic Median Household Income $87,200 Median Age 45 12% bought multi-generational home Reasons: Health/caretaking of aging parents-24% Cost savings-24% Children over 18 moving back into house-17% Spend more time w/aging parents-9%

13% bought multi-generational home East South Central Median Household Income $77,300 Median Age 43 13% bought multi-generational home Reasons: Children over 18 moving back into house-37% Cost savings-31% Health/caretaking of aging parents-24% Spend more time w/aging parents-7%

15% bought multi-generational home West South Central Median Household Income $86,500 Median Age 42 15% bought multi-generational home Reasons: Children over 18 moving back into house-22% Cost savings-22% Health/caretaking of aging parents-19% Spend more time w/aging parents-8%

19% bought multi-generational home Mountain Median Household Income $73,900 Median Age 48 19% bought multi-generational home Reasons: Children over 18 moving back into house-26% Cost savings-24% Health/caretaking of aging parents-17% Spend more time w/aging parents-4%

17% bought multi-generational home Pacific Median Household Income $96,300 Median Age 44 17% bought multi-generational home Reasons: Cost savings-27% Children over 18 moving back into house-20% Spend more time w/aging parents-19% Health/caretaking of aging parents-17%