Facts from the latest 2010 survey of buyers and sellers from the National Association of Realtors.
What Sells?
- The typical home purchased was 1,780 sq. ft., was built in 1990, and had 3 bedrooms, 2 bathrooms.
Appealing To Buyers
- 44% of sellers offered incentives, like home warranties and help with closing costs, to attract buyers.
The Price Is Right
- Recent sellers typically sold their homes for 96% of the listing price; 57% reduced the asking price at least once.
Gender Gap
- There are more single female buyers than single males. But single male buyers grew by 2% between 2009-2010, and single female buyers dropped by 1%.
Cost of Living
- The median price buyers paid for homes was $179,000.
Why Does Home Ownership Matter?
- Historically, home owners' net worth has ranged from 31-46 times that of renters.
- A fixed-rate mortgage might not change for 15-30 years; rent typically increases 3% per year.
- Every home purchased pumps $60,000 into the economy.
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