Who are Todays Homebuyers and How Are They Finding Their Dream Homes?

One of the most useful research projects of the National Association of Realtors® (NAR) is the annual survey of homebuyers and sellers. The information is based on answers to an eight-page questionnaire mailed to 133,000 consumers who purchased a home between July 2007 and June 2008.

Here are some highlights of this years finding:

· 41% of the market constituted First-time homebuyers.

· 6% percent of buyers purchased a home that had been foreclosed or that was in the process of foreclosure.
· 69% of buyers said that they used the internet frequently during their home search.
· 33% of buyers went to the internet as the first step in the home search.
· 17% contacted a real estate agent first.

· 9% began by driving through neighborhoods looking for homes for sale.

Buyers use multiple sources of information in the process of looking for a home. The top three sources were:

· 87% used the internet
· 85% used real estate agents
· 62% used yard signs



Of the 87% who used the internet in their search process they visited the following sites:· 60% of those buyers went to MLS sites.


· 48% percent used Realtor®.com
· 46% went to real estate company websites
· 43% went to sites hosted by individual agents.


While there is a lot of intriguing information about the sources of information used by prospective homebuyers, certainly the most relevant has to do with where they actually found the home that they ultimately purchased.

· 34% of buyers found their home from information provided by their real estate agent.
· 32% found their home on the internet.
· 15% found their home via a yard sign.

Would you like more information about listing your home? Contact bill.swanson@cbshome.com or visit www.billswanson.com.