Back To Blog

Home Buyers 2013Profile Highlights

home buyersThe recently released National Association of Realtors (NAR) Profile of Home Buyers and Sellers 2013 yielded a variety of interesting facts.

Characteristic Highlights Of Home Buyers In 2013

When polling consumers about their home-buying experience, NAR learned that:

  • Thirty-eight percent of recent home buyers were firsttime buyers, which is still at a suppressed level from the historical norm of 40 percent.
  • Fourteen percent of buyers purchased a multigenerational home due to children over the age of 18 moving back into the house, cost savings, and health and caretaking of aging parents.
  • The typical buyer was 42-years-old, while the typical firsttime buyer was 31 and the typical repeat buyer was 52.
  • The 2012 median household income of buyers was $83,300. The median income was $64,400 among firsttime buyers and $96,000 among repeat buyers.
  • Sixty-six percent of recent home buyers were married couplesthe highest share since 2001.
  • For 30 percent of recent home buyers, the primary reason for the recent home purchase was a desire to own a home.