real trends for today
Volume VIII  Issue 3                                                                       3rd Quarter 2000 

                                             

Beth Pressler  CRS   GRI  LTG

Higbie Maxon Agney, Inc. REALTORS®
83 kercheval
grosse pointe farms, mi 48236
313.886.3400

Toll Free 1.888.886.4060

Home Buying Trends 2000

This new millennium has brought several exciting advances to the homebuying industry.

Today, it’s not unheard of to shop for homes in the comfort of your living room...even BUY homes over the internet! This translates to the real estate industry keeping pace with consumer shopping habits.

Real estate firms now offer websites that feature not only properties for sale, but resourceful information about mortgages, title searches, schools information, community data reports...and the list goes on and on.

The National Association of REALTORS® has surveyed consumers and recently reported its findings on their website, http://www.realtor.com.

1) Internet Search for Homes: Not surprisingly, this category took a huge jump from 1997 with only 2% of consumers using the internet to search for a home to 18% of consumers in 1999. These statistics are certainly in line with the enormous usage by the public in the internet in general. All age and socioeconomic groups are enjoying the internet as a resource...and the home search is no exception.

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2) Factors in Home Purchase: This graph depicts the top factors that consumers use when searching for homes:

73% bought based on price

40% bought for proximity to work

34% needed close proximity to schools

23% wanted to be near family/friends

20% wanted to be close to Parks

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Typical Buyer & Seller Characteristics:

Typical Seller's home was on the market for seven weeks

Sellers lived in their homes for a median of seven years

49% of Sellers looked at other homes to buy before placing their home on market

Buyers searched 8 weeks to find home ultimately purchased

Examined 10 homes in the search process

4 out of 5 buyers purchased an existing home

79% of Buyers felt the neighborhood was the most influential factor in buying

NAR (National Association of REALTORS®) Facts of Interest

NAR is the nation's largest trade association, known as "The Voice for Real Estate"

700,000 members involved in all aspects of the real estate industry

1,600 local boards/associations

www.realtor.com is the Web's largest real estate site

realtor.com lists approximately 1.2 Million homes for sale

Consumers visit realtor.com with over 90 millions home views per monthv

Information from National Association of REALTORS®/www.realtor.com

Email me at: beth@bethpressler.com

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