Today's Homebuyer Characteristics

So, what do we know about today's home buyer?

Well, quite a bit actually.

And it's all contained in a nifty little 211-page report compiled by the National Association of Realtors. If you want to read the entire report, just go to www.floridarealtors.org/Research/Indeex.cfm.

If, however, you have a life and are satisfied with the report's highlights, here's the important stuff as it relates to Florida buyers during 2009 ...

• 41% of recent home buyers were first-timers in Florida, as compared to 47% nationwide.
• The typical first time buyer in Florida was 31 years of age; the typical repeat buyer was 54. Nationwide, buyers were 30 and 48 respectively.
• The 2008 median household income of buyers in Florida was $71,100; nationwide, $73,100.
• Single females made up 18% of recent home buyers in Florida.
• The typical home purchased was 1,850 square feet and built in 2000.
• The median price of a single family home purchase was $176,500.
• More than one-third of home buyers started their home search looking at online listings.
• 75% of buyers used the internet at some point during their home search.
• The typical home buyer searched for 12 weeks in Florida.
• The typical home buyer financed 93% of the home's purchase price.
• Recently sellers typically sold their home for 93% of the listing price, and 65% of sellers reported that they reduced the asking price at least once.
• For Sale By Owner sellers made up only 10% of Florida sales.
• 40% of FSBO sellers knew the buyer prior to the home sale.
• 15% of FSBO sellers reported that completing the sale within their planned time frame was the hardest part of the selling process.

It's amazing how you can condense a 211 page report to just a few factoids isn't it!

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