2011 Home Buying Statistics

Reviewing statistics of the general population when either buying or selling a home is a smart stepping stone. If you are a part of the formula like I am - A Home Stager, these statistics are just as important. My job is to help the seller "package the goods-" From smart updates, deciding what goes and stays, styling the home, creating curb-appeal - I'm the pro who wraps the package.

Reprinted from April's edition of Illinois Realtor

A SNAPSHOT OF TODAY’S HOME BUYERS AND SELLERS

• 37 percent of U.S. home buyers were first-time buyers in 2011, a drop from 50 percent in 2010.
• The use of the Internet in home searches dipped to 88 percent from a high of 90 percent in 2009 as the demographics of home buyers shifted to slightly older repeat buyers from younger first-time buyers.
• The median down payment for all home buyers was 11 percent, ranging from 5 percent for firsttime buyers to 15 percent for repeat buyers, a percentage point higher than 2010.
• 89 percent of buyers purchased their home through a real estate agent or broker.
• About half of home sellers traded up to a larger-sized and higher-priced home and 60 percent purchased a newer home.
• 87 percent of sellers were assisted by a real estate agent when selling their home.
• The typical buyer was 45 years old, a jump from 39 years old in 2010.