Greater Seminole County Real Estate Report 8-19-20: Who is the typical home buyer and seller? Let’s take a look at the latest statistics that will give you deeper insight into the housing market.
Statistics of the Average Buyer and Seller
It is important to understand the housing market, including how much homes are selling for and whether it is a buyer’s or a seller’s market. However, in order to have a complete picture of the real estate industry, you must also know who the buyers and sellers are. Today I want to share with you a snapshot of who the average home buyers and home sellers were in 2019 according to the National Association of Realtors.
Home Buyers at a Glance
The following are the characteristics of the typical home buyer nationwide:
- 33% of those who purchased a home were first-time home buyers.
- 24% of homebuyers in 2019 had student debt.
- The average income of home buyers was $93,200.
- 50% of home buyers chose to purchase in a suburban neighborhood.
- The median down payment for purchasing a home was 12%.
- An astounding 89% used a Realtor for the home buying process.
Home Sellers at a Glance
The following are the characteristics of the typical home seller nationwide:
- 44% of sellers chose to sell their homes in order to upgrade to a larger home.
- The median equity gain for home sellers was $60,000.
- 10 years was the average length of time that homeowners lived in their home before selling.
- The average distance between the home sellers sold and the new they bought was only 20 miles.
- As with home buyers, 89% chose to sell their home through a Realtor.
An Experienced Realtor Makes All the Difference
Using an experienced Realtor will make all the difference in selling your home for the highest price possible and purchase a new home at the best price possible. I am here to answer any questions you may have about buying or selling your home. Please contact me at firstname.lastname@example.org or 407-330-2181. Until next week, stay safe!
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