Professional Documents
Culture Documents
Profiles of Recent
Home Buyers and
Sellers
November 2, 2018
National Association of REALTORS®
Research Group
Methodology
In July 2018, NAR mailed out a 129-question survey using a random sample weighted to be representative of
sales on a geographic basis to 155,250 recent home buyers. The recent home buyers had to have purchased a
primary residence home between July of 2017 and June of 2018. A total of 7,191 responses were received from
primary residence buyers. After accounting for undeliverable questionnaires, the survey had an adjusted
response rate of 4.6 percent.
Respondents had the option to fill out the survey via hard copy or online. The online survey was available in
English and Spanish.
Consumer names and addresses were obtained from Experian, a firm that maintains an extensive database of
recent home buyers derived from county records. Information about sellers comes from those buyers who also
sold a home.
All information in this Profile is characteristic of the 12-month period ending June 2018, with the exception of
income data, which are reported for 2017. In some sections comparisons are also given for results obtained in
previous surveys. Not all results are directly comparable due to changes in questionnaire design and sample
size. Some results are presented for the four U.S. Census regions: Northeast, Midwest, South, and West. The
median is the primary statistical measure used throughout this report. Due to rounding and omissions for space,
percentage distributions may not add to 100 percent.
Data gathered in the report is based on primary residence home buyers. From the 2017 Investment and
Vacation Home Buyer Survey, 70 percent of home buyers were primary residence buyers, which accounts for
4,207,000 homes sold in 2016. Using that calculation, the sample at the 95 percent confidence level has a
confidence interval of plus-or-minus 1.15%.
Children in
40% 35% 37% 38% 37% 34%
Home
Own a 2nd
19% 21% 19% 15% 17% 17%
Home
% 10% 20% 30% 40% 2018 Profile of Home Buyers and Sellers
Unmarried Couples
Type of Home Unique to these buyers:
Median Age: 34
Purchased Median Income: $88,750
60% are first-time buyers Quality of
Detached single- 91% are buyers of previously owned homes neighborhood was
family, 83% an influencing
89% bought through an agent/broker
Townhouse/row factor, 63%
Median square feet of home purchased: 1,630
house, 8%
Median home price: $219,000 69% had no
Duplex/apartmet/
condo, 2%
children under
Other, 6%
the age of 18
living in their
home
Reasons to Purchase 9% 23% of unmarried
Home of all respondents couples
compromised on
Desire for a home in a better condition of their
area
5%
home
Change in family situation
54% rented an
(e.g. marriage, birth of child, 8% apartment or
divorce, etc.)
7% of buyers bought multi-generational home house before their
Desire for a larger home 8% Reasons: recent purchase
Young adults over age 18 : 82%
Desire to own 48% Aging family members: 12%
% 10% 20% 30% 40% 50% 60%
2018 Profile of Home Buyers and Sellers
First-time Buyers
Type of Home Unique to these buyers:
Purchased
Median Age: 32
Median Income: $75,000 The expected
Detached single- 91% are buyers of previously owned homes
tenure of first-time
family, 80% 90% bought through an agent/broker
Townhouse/row Median square feet of home purchased: 1,600
buyers was a
house, 10% Median home price: $203,680 median of 10
Duplex/apartment
/condo, 4%
years
54% were married
Other, 6%
couples, 18% single
females, 16%
unmarried couples,
Convenience to
10% single males
Reasons to Purchase 33% job was an
of all respondents important
Home neighborhood
factor, 60%
Financial security 4% 71% rented an
apartment or
Establish a household 4% 12% of buyers bought multi-generational home house before
Change in family situation Reasons: buying
(e.g. marriage, birth of 7% Aging family members: 50%
child, divorce, etc.)
Young adults over age 18: 31%
Desire to own 66%
0% 10% 20% 30% 40% 2018 Profile of Home Buyers and Sellers
Buyers of Senior Housing
(Among those 50 years of age or older)
Unique to these buyers:
Type of Home
Median Age: 69
Purchased
Median Income: $72,800
7% are first-time buyers
49% made no
Detached single-
family, 61% 72% are buyers of previously owned homes compromises when
Townhouse/row 79% bought through an agent/broker purchasing
house, 11% Median square feet of home purchased: 1,700
Duplex/apartment Median home price: $239,100 13%
/condo, 18% purchased in a
Other, 10% resort/recreation
area
Reasons to Purchase 13% 49% found the
Home quality of the
of all respondents
neighborhood
Desire to own home of own 10%
important
Desire to be closer to
Buyers had 2 bedrooms
and 2 bathrooms
18%
friends & family Married couple, 62%
Single female, 24%
Retirement 23%
Single male, 7%
Unmarried couple, 4%
0% 5% 10% 15% 20% 25%
Other, 3% 2018 Profile of Home Buyers and Sellers
Buyers with Student Loan Debt
Unique to these buyers:
Type of Home Purchased
Median Age: 35
Median Income: $90,800 Typically had
Detached single- 55% are first-time buyers $28,000 of
family, 84% 89% are buyers of previously owned homes student loan debt
Townhouse/row 88% bought through an agent/broker
house, 8% Median square feet of home purchased: 1,800 Debt delayed
Duplex/apatment Median home price: $234,000 buyers from
/condo, 3% saving for a
Other, 5% downpayment for
2 years
27% cited saving for
Reasons to Purchase Home
24% the downpayment as
the most difficult step
Change in family situation of all respondents
(e.g. marriage, birth of 7% in the home buying
child, divorce, etc.) process
Job-related relocation or
7%
39% cut spending
move on luxury or non-
essential items
Desire for a larger home 12%
11% of buyers bought multi-generational home to purchase home
Reasons:
Desire to own home of
Aging family members: 46%
46% Young adults over age 18: 35%
their own
0% 10% 20% 30% 40% 2018 Profile of Home Buyers and Sellers
Buyers of New Homes
Unique to these buyers:
Type of Home
Purchased Median Age: 52 39% purchased a
Median Income: $111,770
new home to avoid
Detached single- 20% are first-time buyers
family, 85% renovations or
59% bought through an agent/broker
problems with
Townhouse/row 39% bought directly from the builder
house, 8% plumbing or
Median square feet of home purchased: 2,240
electricity 32% purchased
Duplex/apartment Median home price: $329,200
/condo, 4% a new home to
Other, 3% choose and
customize design
features
Reasons to Purchase 22% purchased a
Home
14% new home for the
of all respondents amenities of new
Job-related relocation or home construction
9%
move communities
62%
Desire for a newly built or purchased in a
10%
custom-built home
14% of buyers bought multi-generational home suburb/
Desire for larger home 10% Reasons: subdivision
Aging family members: 42%
Desire to own home of
own
20% Young adults over age 18: 36%
0% 10% 20% 30% 40% 2018 Profile of Home Buyers and Sellers
Buyers’ Neighborhood Choice was
Because of Pet
Unique to these buyers:
Type of Home Purchased Median Age: 40 33% chose their
Median Income: $85,000 neighborhood
40% are first-time buyers
Detached single- based on
family, 85% 91% are buyers of previously owned homes
Median square feet of home purchased: 1,800 convenience to
Townhouse/row parks/recreational
house, 5% Median home price: $225,000
facilities 4% purchased to
Duplex/apartment
/condo, 3% have a better
Other, 7% home for their
pets
66% said the
Reasons to Purchase Home 15% quality of the
of all respondents neighborhood was
Change in family situation important
7%
(e.g. marriage, etc.)
Desire for a home in a
49% purchased
7% in a suburb/
better area
Desire to be closer to
7% Household Composition subdivision, and
family/friends/relatives
Married couple: 61% 18% purchased in
Job-related relocation or
move
8% Single female, 21% a small town
Desire for larger home 8% Single male, 5%
Unmarried couple, 11%
Desire to own home of
34% Other, 1%
their own
0% 10% 20% 30% 40% 2018 Profile of Home Buyers and Sellers
Black/African-American
Household Unique to these buyers:
Composition
Median Age: 44
Median Income: $82,140
Married couple, 47%
22%
50% are first-time buyers
82% are buyers of previously owned homes compromised on
Single female, 28% the style and size
90% bought through an agent/broker
Single male, 13% Median square feet of home purchased: 1,800 of the home
Median home price: $210,000 purchased 22%
Unmarried couple, purchased a
10% multi-
Other, 2%
generational
home
Reasons to Purchase Quality of the
5%
Home of all respondents
neighborhood
was an influencing
Desire for a home in a better factor, 62%
area
6% 56%
rented an
Change in family situation apartment or
8% Type of Home Purchased
(e.g. marriage, birth of…
house prior to
Desire for larger home Detached single-family- 83% purchasing
11%
Townhouse/row house- 11%
Duplex/apartment/condo- 2%
Desire to own 42% Other- 4%
% 10% 20% 30% 40% 50% 2018 Profile of Home Buyers and Sellers
Asian/Pacific Islander
Household Unique to these buyers:
Composition
Median Age: 36
Median Income: $113,890
51%
rented an
Married couple, 70% 59% are first-time buyers apartment or
80% are buyers of previously owned homes house prior to
Single female, 14%
90% bought through an agent/broker purchasing
Single male, 8% Median square feet of home purchased: 1,970
Median home price: $390,200 69% found the
Unmarried couple, 6%
quality of the
Other, 2% neighborhood to
be important
Reasons to Purchase Home 34% made
4% compromises on
Change in family situation of all respondents
(e.g. marriage, birth of 5% the price of their
child, divorce, etc.) home
Job-related relocation or
move
9% 21% purchased a
Type of Home Purchased multi-generational
home
Desire for larger home 10%
Detached single-family- 82%
Townhouse/row house- 13%
Desire to own a home of Duplex/apartment/condo- 2%
46% Other- 2%
own
6% 23% purchased a
Reasons to Purchase of all respondents multi-generational
Home home
0% 10% 20% 30% 40% 50% 2018 Profile of Home Buyers and Sellers
White/Caucasian
Household Unique to these buyers:
Composition
Median Age: 47
Median Income: $91,820
Married couple, 64% 29% are first-time buyers Convenience to job
86% are buyers of previously owned homes
Single female, 17%
was an influencing
87% bought through an agent/broker
factor at 44%
Median square feet of home purchased: 1,900
Single male, 8%
Median home price: $250,000 21%
Unmarried couple, compromised
9% on the price
Other, 2% of their home
Reasons to Purchase Home 85% 10% purchased a
of all respondents
Change in family situation multi-generational
(e.g. marriage, birth of child, 8%
divorce, etc.) home
Job-related relocation or move 9% 54%
moved from
Desire to be closer to Type of Home Purchased
family/friends/relatives
9% owned home
Detached single-family- 83% prior to buying
Desire for a larger home 9% Townhouse/row house- 6%
Duplex/apartment/condo- 5%
Desire to own 26% Other- 6%
% 5% 10% 15% 20% 25% 30% 2018 Profile of Home Buyers and Sellers