NAR: Dual Income Couples Fueling Market

Dual-income couples are a driving force in the recovering market with married couples making up 65 percent of all buyers—the highest share since 2001, according to the 2012 National Association of REALTORS® Profile of Home Buyers and Sellers. Sixteen percent of recent home buyers were single females—the lowest share since 2001.

Highlights from the annual survey:

  • 39 percent of recent home buyers were first-time buyers, a slight rise from 2011, but closer to the historical norm of 40 percent.
  • The typical buyer was 42-years-old
  • The 2011 median household income of buyers was$78,600. The median income was $61,800 among first-time buyers and $93,100 among repeat buyers.
  • The typical home purchased was 1,900 square feet in size, built in 1992, and had three bedrooms, two bathrooms.
  • 79 percent of homebuyers purchased a detached single-family home.
  • The typical home buyer searched for 12 weeks and viewed 10 homes.
  • 89 percent of buyers purchased their home through a real estate agent or broker.

2012-11-16T15:44:16-05:00November 16th, 2012|Housing Market|0 Comments

About the Author:

Jon Broadbooks is vice president for communications at Illinois REALTORS®.

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