Economists' Outlook

Housing stats and analysis from NAR's research experts.

Halloween and Home Buyers

Home buyers choose their home for many different reasons. Using the 2017 Profile of Home Buyers and Sellers and a recently released® survey, we can discover these common reasons as well as some surprising reasons for purchasing a home.

  • Among all home buyers in the 2017 Profile of Home Buyers and Sellers, 85 percent purchased a previously owned home, that was typically a detached single-family home.
  • Recently purchased homes were typically 1,870 square feet, and 52 percent of sellers purchased a larger home than the home that they sold.
  • The desire to own a home of their own (30 percent) and the desire for a larger home (10 percent) were the two top factors recent home buyers cited as their reason for purchasing.
  • Recent buyers purchased previously owned homes because of the better price (32 percent), better overall value (31 percent), and for the charm and character (21 percent).
  • The quality of the neighborhood (58 percent), convenience to job (42 percent), and overall affordability of homes (39 percent) were the three most influencing factors when choosing a neighborhood.
  •®’s survey revealed that 33 percent of respondents are open to living in a haunted house, while 42 percent are not open to the idea.
  • In order to choose a haunted home over a non-haunted home, 35 percent require a better neighborhood, 32 percent need larger square footage, and 29 percent would do so if more bedrooms are involved.
  • According to the survey, 28 percent of respondents believe they have lived in a haunted home

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