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Profile Types of Home Buyers
November 04, 2013 NAR Research
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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
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Demographic Changes Since 2010
2010 Profile 2011 Profile 2012 Profile 2013 Profile Median Age 39 45 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, 66% married couples, Children in Home 35% 36% 41% 40% Own a 2nd Home 14% 19%
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Married with Kids Median Household Income $97,800 Median Square Feet
2,370 Median Age 37
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Single Female Median Household Income $52,200 Median Square Feet 1,500
Age 48
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Single Male Median Square Feet 1,600 Median Household Income $66,500
Age 46
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Unmarried Couple Median Household Income $82,100 Median Square Feet
1,700 Median Age 32
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First-time Buyers Median Household Income $67,400 Median Square Feet
1,670 Median Age 31
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Repeat Buyers Median Household Income $96,000 Median Age 52 Median
Square Feet 2,060
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Buyers Who Purchased Multi-Generational Housing
Median Household Income $85,800 Median Square Feet 2,150 Median Age 50 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%
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Buyers who Purchased Senior Housing or in an Active Adult Community
Median Household Income $67,400 Median Square Feet 1,700 Median Age 64
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Buyers Who Found Commuting Costs Very Important
Median Household Income $78,000 Median Square Feet 1,800 Median Age 38
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Buyers Who Downsized Their Home
Median Household Income $83,700 Median Age 60 Median Square Feet 1,730
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