Who is Today’s Homebuyer?

Posted on Dec 19, 2016

Today’s homebuyer is not the same as it was in year’s past. Millennials are now beginning to surpass the Baby Boomers and Generation X’ers on home sales. According to the 2016 National Association of Realtors Home Buyer and Seller Generational Trends, single women and Hispanics are making up a large and growing part of today’s home buyers. Below, I wanted to share some fun facts and information with you about today’s home buyer.

  • 13 percent of homes are purchased by a multigenerational household.
  • 84 percent of buyers 33 and under consider a home a good investment.
  • 68 percent of first-time home buyers are 34 and younger, followed by the 35-49 crowd at 29 percent.
  • 50 percent of homebuyers are buying in the suburbs; 20 percent buy in small towns; 16 percent buy in cities; 11 percent buy in rural areas; and 3 percent buy in resorts.
  • The top 5 qualities Millennials look for when buying are: Quality of neighborhood; how convenient to a job; the overall affordability, convenient to family/friends; and quality of schools
  • The top 3 reasons buyers are having trouble with a down payment are: credit card dent, student loans, and car loans.
  • 76 percent of buyers visit a home after finding it on the web.
  • 16 percent of single females buy a home while only 9 percent of single males do.

Still holding strong, married couples are the largest home-buying population as they make up 67 percent of home purchases. Buyers under 35 make up 35 percent of home purchases. When it comes to single women, they make up more than one-third of the growth in the real estate home purchasing market since 1994. Hispanics home ownership jumped from 44.5 percent in 2014 to 46.7 percent in 2015.

Southwest Florida is home to all these different groups of people looking for homes. If you happened to be looking for a home in this area, let me, Kim Arasimowicz, help you find your ideal home. As a native to the area, I can answer all questions about local businesses, beaches, schools, neighborhoods, and more. To start your search with me, click here to view my listings or call me at 239-214-1039.