*In Year 2020…
31% of buyers were 1st timers.
44% of buyers were looking to avoid major renovation issues.
18% of buyers contacted a real estate agent as the first step in the buying process.
97% of buyers looked online at homes for sale (an all-time high).
Buyers searched (on average) for 8 weeks and looked at (on average) 9 homes, with 5 of them being online.
88% of buyers used a real estate agent to purchase a home.
Buyers who purchased during the pandemic purchased homes with an average price of $339,400 vs. buyers who purchased before the pandemic at $270,000.
23% of buyers who purchased during the pandemic purchased a home for $500,000 or more.
12% of buyers purchased a multi-generational home.
Real estate is a data and statistic-driven industry.
*NAR 2020 homebuyer profile