The NAR recently published a profile of US home buyers in 2009. There was some interesting info, and their is quite a difference on buyer behavior depending on the region.
Overall, the largest demographic of home buyer are Married People. 60% of 2009 home buyers are married. Single women bought more than twice as many homes 21%, than single men 10%. Unmarried couples purchased 8% of the homes and “other” purchased the remaining 1 %. I have no idea what that means.
The median age of US home buyers was 39 years old. 35% of buyers were between 25-34 years old and 22% were between 35-44 years old. Just 8% of US home buyers were retired people over the age of 65.
In the Northeast the average home was substantially older, built in 1969, than any other region in the US. The average age of homes purchased in the Midwest were built in 1983, 1995 for the West, and 1998 for the South.
Nationwide, the median home price was $185,000. Homes were most expensive in the West, Median price of $240,000, followed by the Northeast, $210,000, and then the South where the median home price was $175,000. US Homes were least expensive in the Midwest with a median price of $158,000. Home buyers in the west spent more of their household income on housing than those in the East. The average household income of buyers in the west where homes are most expensive, was $74,000, whereas the average income in the Northeast was $79,500.
None of this really has much to do withCache Valley Utah Real Estate. Our market itself is unique, I’d say the average home buyer here is younger, makes less money, and has a higher percentage of being married, but it is kind of fun to see what most buyers in the country are like.
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