Characteristics of homebuyers<\/span><\/p>\n\u2022 Forty-one percent of recent homebuyers were first-timers, compared to 47 percent nationwide.
\n\u2022 The typical first-time homebuyer was 31 years old, while the typical repeat buyer was 54 years old. Nationwide, first-time buyers were typically 30 and repeat buyers were typically 48 years old.
\n\u2022 The 2008 median household income of buyers was $71,100 \u2013 lower than the median income of buyers nationwide at $73,100.
\n\u2022 The median income was $59,300 for first-time buyers and $83,300 for repeat buyers.
\n\u2022 Single females made up 18 percent of recent homebuyers, and single males made up 11 percent. Nationwide, 21 percent were single females, and 10 percent were single males.
\n\u2022 For 29 percent of buyers, a desire to own a home was the primary reason for the home purchase.<\/p>\n
Characteristics of homes purchased<\/span><\/p>\n\u2022 New home purchases dropped to their lowest level in eight years nationwide \u201318 percent of all recent home purchases. But in Florida, new homes made up 26 percent of purchases.
\n\u2022 The typical home purchased was 1,850 square feet in size and built in 2000.
\n\u2022 Seventy-eight percent of homebuyers purchased a detached single-family home.
\n\u2022 The median price of a Florida home purchased was $176,500, compared to $185,000 nationwide.
\n\u2022 Three in four buyers (77 percent) considered commuting costs as \u201cvery\u201d or \u201csomewhat\u201d important.<\/p>\n
The home search process<\/span><\/p>\n\u2022 More than one-third of homebuyers started their home search process by looking online for listings.
\n\u2022 Seventy-five percent of buyers used the Internet to search for homes.
\n\u2022 Buyers had a high opinion of real estate agents, with 81 percent of those who used an agent saying they received very useful information.
\n\u2022 The typical homebuyer searched for 12 weeks and viewed 15 homes, compared to 12 weeks and 12 homes nationwide.<\/p>\n
Homebuying and real estate professionals<\/span><\/p>\n\u2022 Sixty-seven percent of buyers purchased their home through a real estate agent or broker.
\n\u2022 Sixteen percent of buyers purchased a home in foreclosure. Nationally, 10 percent of buyers purchased a home in foreclosure.
\n\u2022 Thirty-nine percent of buyers found their agent through a referral from a friend or family member.
\n\u2022 Sixty-four percent of buyers would definitely use their real estate again or recommend the same agent to others.<\/p>\n
Financing the home purchase<\/span><\/p>\n\u2022 Florida had more cash sales, with 81 percent of buyers financing their recent home purchase. Nationwide, 92 percent financed their recent home purchase.
\n\u2022 The typical buyer financed 93 percent of the home purchase price.
\n\u2022 Nearly half (45 percent) of homebuyers reported they made some sacrifices to buy the home, such as reducing spending on luxury items, entertainment or clothing.
\n\u2022 Thirty-one percent of first-time buyers reported their mortgage application and approval process was \u201csomewhat\u201d more difficult than they expected, and about one-in-ten reported it was \u201cmuch more\u201d difficult than expected.<\/p>\n
Home sellers and their selling experience<\/span><\/p>\n\u2022 Real estate agents assisted 85 percent of sellers in Florida, the same percentage nationally.
\n\u2022 Recent sellers typically sold their homes for 93 percent of the listing price, and 65 percent reported they reduced the asking price at least once. Among all sellers nationally, sellers typically sold their homes for 95 percent of the listing price, and 60 percent reported they reduced the asking price at least once.
\n\u2022 Forty-two percent of sellers offered incentives to attract buyers, most often assistance with home warranty policies and closing costs.<\/p>\n
Home selling and real estate professionals<\/span><\/p>\n\u2022 Thirty-four percent of sellers who used a real estate agent found their agents through a referral by friends or family, and 24 percent used the agent they worked with previously to buy or sell a home.
\n\u2022 Eighty-six percent of sellers reported that their home was listed or advertised on the Internet.
\n\u2022 Among recent sellers who used an agent, 84 percent reported they would definitely (57 percent) or probably (27 percent) use that real estate agent again or recommend that person to others.<\/p>\n
For-Sale-by-Owner (FSBO) sellers<\/span><\/p>\n\u2022 FSBOs made up 10 percent of Florida sales, which is slightly less than the national rate of 11 percent.
\n\u2022 Almost half of the FSBO sellers (40 percent) knew the buyer prior to the home sale.
\n\u2022 If a seller wasn\u2019t dealing with a buyer he already knew, the primary reason (62 percent) for going FSBO is that the seller did not want to pay a fee or commission.
\n\u2022 Over half of FSBO sellers took no action to market their home, and 58 percent did not offer any incentives to attract buyers.
\n\u2022 Fifteen percent of FSBO sellers reported that completing a transaction within their planned timeframe was the hardest part of selling their home.<\/p>\n","protected":false},"excerpt":{"rendered":"
The real estate market constantly evolves, and Realtors must continually have a clear picture of today\u2019s homebuyers and sellers. The \u201c2009 Profile of Homebuyers and Sellers, Florida Report\u201d describes the characteristics and motivations of the state\u2019s recent homebuyers and sellers. For the\u00a0complete 211-page report, compiled by the National Association of Realtors, click here. Highlights: Characteristics […]<\/p>\n","protected":false},"author":1401,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[59],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/posts\/13329"}],"collection":[{"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/users\/1401"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13329"}],"version-history":[{"count":0,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/posts\/13329\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.myewm.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}