According to the latest national housing trends report we now have a clearer picture of the most common home buyer demographics. While many of you may be thinking this information is mainly for curious real estate professionals, it actually can be quite helpful for sellers in particular. As a real estate brokerage, we always pay close attention to every detail in the housing market as this allows for a better overall buyer or seller experience. We discuss some of the findings of these trends below.
The average American home buyer
Overall, the average American home buyer in 2021 was:
- 45 years old
- married or partnered
- college educated
- most likely to purchase a home in the south region
- 26% of home buyers are between the age of 30 to 39
- 23% of home buyers are between the age of 40 to 49
- 23% of home buyers are aged 60 and over
- 73% of home buyers are White or Caucasian
- 40% of all home buyers live in the south region
- 23% of all home buyers live in the west & midwest regions
- 15% of all home buyers live in the northeast
- the west & midwest regions has the highest inventories of homes for sale
- The national median household income in 2019 was $65,700, but the annual median household income for buyers is about $86,000.
Many readers of this article may think of these data as useless trivia, however it is always a best practice to study the demographics of the real estate market. In particular, sellers can really benefit from this attention to detail when implementing marketing strategies. When working with a real estate agent, it is important to confirm that he/she has a thorough understanding of the local market trends. A thorough and thought-out approach will result in a quicker sale at a higher price.
At Live South Florida Realty, Inc. we have assisted many clients with their real estate needs. Are you looking to buy or sell a property in South Florida? Now more than ever, it is critical to have a qualified real estate team and the proper search tools behind you. Live South Florida Realty, Inc., has been a leader in the South Florida market for many years. Let our team of professionals assist you with buying or selling your piece of paradise today! In addition, our recently launched “Florida Home Search” app is now available on the Apple App Store and Google Play Store. With real-time MLS feeds, this app lets you set your own alerts to notify you as soon as a property meeting your needs hits the market. Furthermore, it will also let you know of recent closed sales in your area so that you may be even more educated on the market. Be sure to download this app for your smartphone or tablet today!