Beyond the Numbers: Inside the 2023 Home Buyer & Seller Profiles | Tiffany & Ashlee - 036

Realestatable

Have you ever read the NAR Home Buyer & Seller profiles? Reading a bunch of stats isn’t everyone’s idea of a good time. Luckily, Realestatable is here to sift through the numbers and bring you all the key takeaways you need to know! In this episode of Realestatable, our hosts Tiffany and Ashlee walk you through this amazing resource to help you learn from the past year by hearing what your average agent experienced. If you want to check out the report for yourself, check out the Resources section below!

Homebuyer Insights

• The typical homebuyer's household income now averages $107,000.

• First-time homebuyers made up 32% of all buyers, with the distance moved from the last home decreasing significantly.

Seller Statistics

• The typical seller was 60 years old and had varied reasons for selling.

• 39% of sellers traded up to a larger home, while 33% purchased a smaller home.

Market Trends

• Existing homes are gaining traction with buyers due to more options and opportunities for updates.

• Detached single-family homes remain the most popular at 79%, highlighting the importance of neighborhood quality and community features.

The Role of The Agent

• Real estate agents are seen as valuable information sources, with 90% of buyers finding their agent very useful.

• Relationships and referrals continue to be crucial, with 43% of buyers using agents referred by friends or relatives.

• Only 13% of clients are returning to the same agent they’ve used before - make sure you’re keeping up with your relationship-building game.

Reflecting on Professional Practices

• When you’re creating online listings, don’t forget to put as much information as you can out there for potential buyers to see. Great pictures are also a MUST.

• Many of the stats shared in this episode would make great social media content! Don’t forget to tag us @realestatable!

Resources

Check out the NAR Home Buyers and Sellers Report!

Have questions about how to succeed in today’s real estate climate? Want further insights from a recent episode? Or maybe you just want to keep it real and connect with us! Either way, head over to www.realestatable.com/contact to book a one-on-one with us, and we’d be happy to answer any questions that you might have.

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3. YouTube - https://www.youtube.com/@Realestatablepodcast

Show Credits:

Our Executive Producers and Hosts are Ashlee Jankovich and Tiffany Klusacek. The Realestable podcast is produced by TSE Studios. Music provided by SoundStripe.