For lots of home buyers, buying a home is one of the largest financial transactions they will make. Real estate agents help buyers find just the right home and negotiate prices and terms of sale. Here are a few takeaways on current home buyer trends from the 2019 NAR survey.
- 87% of all home buyers purchased their home through a real estate agent.
- Working with a real estate agent that is honest and trustworthy is the most important factor for buyers when choosing an agent.
- Finding the right home remained the hardest part of the home buying process, followed by paperwork and understanding the process and steps.
- The percentage of buyers who purchased directly from a builder or previous owner declined to 6% and 7%, respectively.
- 33% of buyers were first-time home buyers.
- 86% of home buyers purchased previously owned homes.
- Buyers typically spent 10 weeks searching for a home and looked at a median of 10 homes.