2013 Profile of Home Buyers and Sellers
Here's a short analysis of homebuyer characteristics for 2013...
First-time homebuyers still make up a lower-than-average share of total homebuyers, but their not too far behind; in 2013, they’ve made up 38 percent of buyers, down from the historical average of 40 percent.
One surprising faction that is multi-generational homebuyers, who made up 14 percent of all purchases; such purchases were made to account for college graduates living with their parents, aging parents living with their children and cost savings.
The median income for households was $83,300, while for first-time buyers and repeat buyers, it was $64,400 and $96,000, respectively.
Interestingly, despite those seemingly high income levels, 66 percent of recent homebuyers were married couples, the highest such share since 2001.
The typical homebuyer was 42 years old, while the typical first-time homebuyer was 31 and the typical repeat buyer 52.
Finally, the simple desire to own a home remains potent among American consumers – 30 percent of recent homebuyers said it was their primary reason for buying a home.