According to NAR here are some fun and interesting stats about Homes Purchased:
- 87% of buyers purchased a previously-owned home
- 13% of buyers purchased a new construction
- 45% of new construction buyers did so to avoid renovations and problems with the previously-owned home
- Single-family homes were the most popular choice for recent homebuyers, with 79% of buyers opting for this type of property
- The average distance between the home that recent buyers purchased and their previous home was 20 miles
- The quality of the neighborhood emerged as the top priority for 60% of buyers when deciding where to live
- The most common style home purchased was 1,860 square feet, 3 bedroom, 2 bath, home built in 1985
- On average, buyers anticipated residing in their homes for a median duration of 15 years
Thanks for reading,
Chris
