More Than One-Third Of New Home Sales Were First Time Home Buyers

The numbers are in, and the latest real estate statistics provided by The NATIONAL ASSOCIATION OF REALTORS® annual report provide fantastic insight into the current real estate landscape.

More than one-third all home buyers were first-time home buyers and nearly all of them used a real estate agent. Additionally, only eight percent of the most recent home sales were “For Sale By Owner Transactions.” Overall confidence of agents is overwhelimg, and more than 88 percent of buyers would recommend their agent to others or use the same agent for another real estate transaction.

• Thirty-one percent of home buyers stated their primary reason for purchasing a home was their desire to own their own home
• Thirty-five percent of all home buyers were first-time home buyers, an increase of three percent over last year’s near low of 32 percent.
• Eighty-eight percent of buyers recently purchased their home through a real estate agent or broker.
• Eighty-eight percent of buyers would use their agent again or recommend their agent to others.
• Eight percent of recent home sales were For Sale By Owner (FSBO) The lowest figure recorded since the first report in 1981.