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 examines:
- Characteristics of Home Buyers
- Characteristics of Homes Purchased
- The Home Search Process
- Home Buying and Real Estate Professionals
- Financing the Home Purchase
- Home Sellers and Their Selling Experience
- Home Selling and Real Estate Professionals
- For Sale by Owner (FSBO) Sellers
- Home Buyers Before and During COVID-19
- Home Sellers Before and During COVID-19
Highlights
- Buyers purchasing after March were more likely to purchase a multi-generational home – 15% versus 11% who purchased before April
- 14% of buyers who purchased in April or later said their transaction was delayed due to COVID-19
- Sellers who closed in April or later were more likely to sell because their home was too small – 18% compared to 13% of those before April
Get the full report
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