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Homes Purchased By Home Buyers 2013Profile Highlights

homes purchasedThe recently released National Association of Realtors (NAR) Profile of Home Buyers and Sellers 2013 yielded a variety of interesting characteristics of homes purchased last year.

Characteristic Highlights Of Homes Purchased 2013

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

  • New home purchases continue to drag at a share of 16 percent of all recent home purchases.
  • New home purchasers bought a new home to avoid renovations or problems with plumbing or electrical, andthe ability to customize their home. Home buyers who bought previously owned homes purchased their home for a better price and overall value, and the charm and character their home provides.
  • The typical home purchased was 1,900 square feet in size, was built in 1992, and had three bedrooms and two bathrooms.
  • Eighty percent of home buyers purchased a detached single-family home.
  • Fourteen percent of recent buyers over the age of 50 bought a home in senior-related housing, either for themselves or for a friend or relative.
  • When considering the purchase of a home, heating and cooling costs were at least somewhat important to 85 percent of buyers and commuting costs were considered at least somewhat important by 73 percent of buyers.