According to the 2019 Profile of Home Buyers and Sellers conducted by the National Association of Realtors®, the typical home buyer in 2019 was 47 years old with median household income of $93,200. Of all the home buyers who participated in the survey, 33% purchased a home for the first time which was the same percentage reported in 2018. Highlights below include the primary type of homes purchased in 2019 and primary reasons motivating home buyers as reported by the survey participants.
- 12% of home buyers in 2019 purchased a multi-generational home for three primary reasons:
* to take care of aging parents
* for children 18+ years moving back home
* for cost savings
- Primary reason given for purchasing a home? 29% of home buyers in 2019 stated the primary reason was the desire to own a home of their own.
- Relationship status for those who shared:
- 61% married couples
- 17% single females
- 9% single males
- 9% unmarried couples
- 13% of home buyers in 2019 purchased a brand new home; 39% of these buyers stated a primary reason was to avoid renovations and problems with plumbing or electricity.
- 87% of home buyers in 2019 purchased a previously-owned home; of these 33% reported a “better overall value” was their primary consideration.
Contact Tamela today to schedule a Home Buyer Consultation to better understand:
* Your rights as a home buyer in MA
* The overall process, timeline, and realistic expectations
* How to protect your negotiating position
To ensure your best interests are always represented, hire a Buyer Agent who works only with and for you as the home buyer. It is your right to have undivided loyalty from your Buyer Agent!
©Tamela Roche, all rights reserved. Data Source: National Association of Realtors® 2019 Profile of Home Buyers and Sellers