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Who Is Buying Homes

December 7, 2012 |  Article By :   | 

Ever wonder who is buying homes right now?  Currently there are more buyers out there shopping than there are properties but who are these people?  The National Association of Realtors 2012 Profile of Home Buyers and Sellers report gives us an idea of who the buyers are.

  • 39% of recent home buyers were first time home buyers, a slight rise from 2011, but closer to the historical normal of 40%.
  • The typical buyer was 42 years old, a decrease from 45 years old last year.
  • The 2011 median household income of buyers was $78,600. The median income was $61,800 among first time home buyers and $93,100 for repeat buyers.
  • 65% of recent home buyers were married couples, the highest number since 2001. 16% of recent home buyers were single females, the lowest share since 2001.
  • For 30% of recent home buyers, the primary reason for recent home purchase was the desire to own their own home.