Every year the National Association of REALTORS® puts together a comprehensive report on the Profile of Home Buyers and Sellers. I selected some statistics from the Massachusetts portion of the report that I thought you would find interesting.
- · 55% of recent home buyers were first-time buyers, compared to 50% nationwide.
- · New Home purchases were at the lowest level in 9 years nationwide - down to 15% of all recent home purchases. Massachusetts - only 8% of homes were new.
- · The typical home purchased was 1500 sqft in size, was built in 1963, and had 3 bedrooms and 1 full bathroom.
- · When considering the purchase of a home, commuting costs were considered very or somewhat important by 79% of buyers.
- · Typical buyer financed 88% of their home purchase.
- · 36% of home buyers reported they have made some sacrifices such as reducing spending on luxury items, entertainment or clothing.
- · 95% of home buyers used the internet to search for homes.
- · 90% of buyers purchased their home through a real estate agent or broker.
- · 94% of sellers were assisted by a real estate agent when selling their home.
- · Among recent sellers who use an agent, 87% reported they would use that real estate agent again.
- · The share of home sellers who sold their home without the assistance of a real estate was 4%.
- · The primary reason that sellers choose to sell their home without a real estate agent is that the buyer contacted the seller directly.
If you would like a copy of the complete Massachusetts or National report, email me at
email@example.com and I would be happy to send you a copy.