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For most home buyers, the purchase of real estate is one of the largest financial transactions they will make. Buyers purchase a home not only for the desire to own a home of their own, but also because of changes in jobs, family situations, and the need for a smaller or larger living area. This annual survey conducted by the NATIONAL ASSOCIATION OF REALTORS® of recent home buyers and sellers provides insight into detailed information about their experiences with this important transaction. Here are highlights from the latest report.
- At 31 percent, the primary reason for purchasing a home was the desire to own a home of their own.
- First-time buyers made up 35 percent of all home buyers, an increase over last year’s near all-time low of 32 percent.
- Eighty-eight percent of buyers recently purchased their home through a real estate agent or broker.
- Eighty-eight percent of buyers would use their agent againor recommend their agent to others.
- Only eight percent of recent home sales were FSBO sales again this year. For the second year, this is the lowest share recorded since this report started in 1981.
More Information
- Buy the full report in the REALTOR® Store.
- Read the news release about the report.
- See and share an infographic containing highlights of the report.
- Watch a video about first-time buyers over the years.
