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| CHARACTERISTICS OF HOME BUYERS For most home buyers, the purchase of real estate is one of the largest financial transactions they will make. Buyers purchase a home not only for the desire to own a home of their own, but also because of changes in jobs, family situations, and the need for a smaller or larger living area. Characteristics of Home Buyers First time home buyers make up 33% of all home buyers. The typical buyer is 47 years old 20% of recent buyers are veterans Characteristics of Homes Purchased Home prices increased slightly to a median of $257,000 amont all buyers Buyers typically purchased their homes for 98% of the asking price Aspiring Buyers Among non-owners, 74% are currently renters; 26% currently live with someone else without paying housing costs 78% of non-owners believe homeownership is a good decision 81% of non-owners want to own a home in the future .png) |
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