Profiles of Home Buyers and Sellers

Highlights from NAR’s 2014 Profile of Home Buyers and Sellers:

  • 33% of recent home buyers were first time buyers, which is still suppressed from the historical norm of 40% among primary residence buyers.
  • For 43% of home buyers, the first step in the home-buying process was looking online for properties.  12% of home buyers first looked online for information about the home buying process (before contacting a Realtor or lender).
  • profile92% of buyers use the internet in some way in their home search process and 50% of buyers use a mobile website or application in their home search.
  • Real estate agents were viewed as a useful information source by 98% of buyers who used an agent while searching for a home.
  • The typical home buyer searched for 10 weeks and viewed 10 homes – this is 2 weeks shorter than the previous year’s report.
  • 70% of home sellers only contacted one agent before selecting the one to assist with their home sale.
  • The share of home sellers who sold their home without the assistance of a real estate agent was 9% (FSBO’s).  44% knew the buyer prior to home purchase.

In summary, the internet is a key resource for today’s buyers and sellers.  However, Realtors are still a useful tool to find and close a new home.

Hampton Roads Real-e-statement is written by Alyssa Godwin, a Realtor with Liz Moore and Associates. For questions regarding buying or selling contact Alyssa at 757-329-6161 or You can also find Alyssa on Facebook or on the web at