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2008 National Association of Realtors Profile of Home Buyers and Sellers

2008 National Association of

Realtors Profile of Home Buyers and Sellers

The Typical First-time Buyer

Was 30 Yrs Old

While The Typical Repeat Buyer

Was 47 Yrs Old

80% Said The Commute

Was Very Important

When Considering A Home


48% Find the

right house

Other 3%

Help Financing 3%

Determining how much to afford 3%

Help Buyer Negotiate Terms Of Sale 13%

Help With Paperwork 9%

Determining What Comps Are Selling For 7%

Help With The Price Negotiations 14%

93% Of Home Buyers

Financed Their

Home Purchase


Nearly Half Of Home Buyers Reported

They Have Cut Back On Luxury Items,

Entertainment And Clothing To

Qualify For A Mortgage


One Quarter Of

First-time Home Buyers Reported

That The Mortgage Approval Process Was

More Difficult Than Expected


One Fifth Of Home Sellers

Traded Down To A Smaller And Less

Expensive Home


Over Half Of Home Sellers

Traded Up To A Larger And

Higher Priced Home


More Than 92% Of

Home Buyers Under 44

Used The Internet To Search

For A Home In 2008


8 Out Of 10 Buyers

45-64 Years Old

Used The Internet

To Search For Homes


In 1995, 2% Of

All Home Buyers


For A Home


By 2008, 87% Of

All Home Buyers


For A Home


3 Out Of 4 Home Buyers

Drove By Or Viewed A Home

They Saw Online


81% Of Buyers Said

The Internet Was A

Very Useful Tool To Search

For A Home


Buyers Cited

The Internet & Real Estate

Agents Equally

As The Most Useful Tools

When Looking For A Home


Three Times As Many Buyers

Found Their Home Online In

2008 Than They Did In 2003


In Fact, More Buyers Find

Their New Home

Through The Internet


Than


Newspapers,

Home Books,

Direct Connection With Seller

And Yard Signs

Combined

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