The 2010 Profile of Home Buyers and Sellers describe the characteristics and motivations of recent home buyers. There are numerous ways for buyers to search and finance their home and a growing list of services their agent can provide to assist them in the process.

44% of recent home buyers were first time buyers.

Typical first time buyer was 31 years old while typical repeat buyer was 54 years old.

Median income for first time buyers was $53,500 and $84,300 for repeat buyers.

The typical buyer financed 93% of the home purchase.

73% of first time buyers rented an apartment or house prior to their purchase.

53% of first time buyers cite Desire to Own a Home as primary reason for purchase.

39% of first time buyers bought a home between 1501 and 2000 sq ft.

65% of buyers cite Quality of Neighborhood as top location factor.

98% who used an agent viewed agent information as useful.

89% used the internet during their home search.

79% used an agent for their home purchase

With all the talk about short sales in the media and real estate market, only 10% of first time buyers and 7% of all buyers purchased a short sale in 2010.

Let’s talk about how Buyers Home Store can help with your new home purchase!

2010 Profile of Home Buyers and Sellers

National Association of Realtors