Home Buyer’s Arsenal

NAR/CREA

The National Association of Realtors (NAR)is the U.S. counter part to our very own Canadian Real Association (CREA). By comparison, CREA with some 100,000 Realtor&:reg; members is a the small brother to NAR’s 1,079,687.

NAR as with CREA, conducts research in a number of real estate related projects that provide data to help consumers and Realtors®. One such project provides some answers that sheds light on Home Buyer activity.

Home Buyer Statistics

The results offered below are derived from survey’s conducted in the U.S. by the NAR. Though the nuance of Canadian Home Buyer patterns may differ, the results are derived from a greater population base and as such, bears credence.

Active home search (median):

  • Number of weeks searched: 12
  • Number of homes seen: 15

First-Time vs. Repeat Buyers

  • First-time buyers: 50%
  • Repeat buyers: 50%
  • Median age of first-time buyers: 30
  • Median age of repeat buyers: 49

Buyers who definitely would use same agent again: 65%

Actions taken as result of Internet home search

  • Walked through a home viewed online: 45%
  • Found agent used to search/buy home: 29%
  • Drove by/viewed a home: 21%

Information sources used in home search

  • Internet: 74%
  • Real estate agent: 69%
  • Yard sign: 22%
  • Open house: 12%
  • Newspaper ad: 9%
  • Home book or magazine: 6%

Source: 2010 National Association of REALTORS® Profile of Home Buyers and Sellers

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About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

Boombust Says:
December 16th, 2010 at 6:20 am

Are those numbers “seasonally adjusted”?

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