Home buyers are ready to plant roots: Today's buyers are young, multicultural, tech-savvy, and eager to buy a home as a personal investment, according to the National Association of REALTORS®' 2019 Profile of Home Buyers and Sellers. Young adults ages 25 to 34 make up a quarter of all home buyers, the largest share. Meanwhile, first-time buyers are getting older: The median age of this cohort rose to 33—the highest on record in the NAR survey.
Snapshot of Home Buyers
Sellers are already rooted, having lived in their current home an average of 10 years, NAR's report shows. Sellers are equity-rich and rely on real estate professionals for guidance now more than ever before, according to the National Association of REALTORS®' 2019 Profile of Home Buyers and Sellers. Equity gains prove a boon to sellers. Higher home prices have translated into faster appreciation for homeowners.
Snapshot of Todays Sellers