Team Member Since 2017
What is the “typical” home buyers are purchasing?
Each year, the National Association of Realtors® reports its insights into the characteristics of the homes purchased across the United States the previous year. Last year, 83% of the homes purchased were detached single family homes. There was only a median of 12 miles between the homes that recent buyers purchased and the homes that they moved from. Heating and cooling costs were the most important environmental features for recent buyers, with 84% finding these features at least somewhat important. For buyers 36 years and younger, commuting costs were more important than heating and cooling costs at 39% and 31% respectively. For buyers 36 years and younger, the expected length of time they plan to remain in the home they purchased was only 10 years, compared to 20 years for buyers 52–61 years.
University of Tennessee