We’re excited to share a new resource with you! PFAR is now providing you with quick and easy access to the latest statistics from the National Association of REALTORS® (NAR). These valuable insights can be used to enhance your marketing materials, create compelling brochures, or even give you powerful talking points when engaging with clients.
Whether you’re looking for up-to-date data on home buyer trends, REALTOR® demographics, or the current state of the real estate market, we’ve got you covered. This information is tailored to help you stay informed and ahead of the competition.
Stay tuned for these updates, and feel free to integrate them into your business strategy to boost your success. If you have any questions or need further assistance, our team is here to help!
Overview of the Real Estate Market
– **Existing Homes Sold (2023):** 4,090,000 existing homes were sold in 2023.
– **New Single-Family House Sales (May 2024):** Sales were at a seasonally adjusted annual rate of 619,000.
– **Real Estate Brokerage Firms (2022):** Over 360,000 real estate brokerage firms operate in the United States.
– **Commercial Buildings (2018):** There were 5.9 million commercial buildings in the U.S., covering 97.0 billion square feet.
– **Occupied Housing Units (2022):** Approximately 125.7 million occupied housing units exist in the United States.
– **Home Seller Statistics (2023):** The typical home seller has been in their home for 10 years; the typical home size is 1,860 square feet.
– **Home Buyer Demographics (2023):** The typical first-time buyer was 35 years old, and the typical repeat buyer was 58 years old.
– **Home Ownership Rate (2022):** 66.1% of families owned their primary residence.
REALTOR® Demographics
– **Licensing:** 65% of REALTORS® were licensed sales agents, 22% held broker licenses, and 17% held broker associate licenses.
– **Typical REALTOR® Profile:** The typical REALTOR® is a 55-year-old white female who attended college and is a homeowner.
– **Gender and Age:** 65% of REALTORS® are female, with a median age of 55.
– **Experience:** Median real-estate experience of all REALTORS® is 10 years.
– **Job Certainty:** 73% of REALTORS® were very certain they would remain active in real estate for the next two years.
– **Firm Tenure:** The median tenure at the present firm is 5 years.
– **Work Hours (2023):** Most REALTORS® worked 35 hours per week.
– **Income (2023):** The median gross income from real estate activities was $55,800, down from $56,400 in 2022.
– **Transaction Sides (2023):**
– Residential sides for all REALTORS®: 10
– Residential sides for residential specialist broker/broker associates: 12
– Residential sides for residential specialists: 10
– Residential sides for commercial specialists: 3
– Commercial sides for commercial specialists: 4
– **Education:**
– Some college: 27%
– Bachelor’s degree: 34%
– Graduate degree and above: 13%
– Associate degree: 13%
– Some graduate school: 5%
– High-school graduate: 7%
– **Firm Affiliation:**
– Independent contractor: 88%
– Employee: 5%
– Other: 8%
Statistics on REALTORS® and Technology
– **Communication Preferences:**
– Text messaging: 94%
– Telephone: 91%
– Email: 89%
– **Website Usage:**
– 64% of broker/broker associates and 73% of sales agents have a website.
– 82% have their own listings on their website.
– 70% include information about buying and selling.
– 65% link to their firm’s website.
– **Social Media Usage:**
– 77% of REALTORS® use Facebook for professional purposes.
– 55% use LinkedIn.
– 19% get 1-5% of their business from social media.
– 10% get 6-10% of their business from social media.
– **Drone Usage:**
– 46% hire a professional for drone use.
– 12% have someone in their office use drones.
– 6% personally use drones.
– 18% do not use drones.
Home Buyer Statistics
– **First-Time vs. Repeat Buyers:**
– First-time buyers: 32%
– Median age of first-time buyers: 35
– Median age of repeat buyers: 58
– **Median Household Income:**
– First-time buyers: $95,900
– Repeat buyers: $111,700
– **Home Characteristics:** The typical home purchased was 1,860 square feet, built in 1985, with three bedrooms and two bathrooms.
– **Financing:** Buyers typically financed 85% of the home price.
– **Real Estate Agent Usage:** 89% of buyers purchased their home through a real estate agent or broker.
– **Satisfaction:** 90% of buyers would use their agent again or recommend them to others.
– **Home Search Method:**
– Internet: 52%
– Real estate agent: 28%
– Yard sign/open house sign: 4%
– Friend, relative, or neighbor: 8%
– Home builder or their agent: 6%
– Directly from sellers/Knew the sellers: 3%
– Print newspaper advertisement: Less than 1%
Home Seller Statistics
– **Typical Seller Profile (2023):**
– Age: 60 years
– Median household income: $111,100
– Tenure in home: 10 years
– **Agent Assistance:** 89% of sellers were assisted by a real estate agent.
– **Sale Statistics:**
– Homes sold for 100% of the listing price.
– 32% of sellers reduced the asking price at least once.
– The typical home sold within 2 weeks.
– **Agent Selection:**
– 39% found their agent through a referral by friends or family.
– 26% used the agent they previously worked with.
– **Satisfaction:** 73% would use the same agent again.
For Sale By Owner (FSBO) Statistics
– **FSBO Sales (2023):** FSBOs accounted for 7% of home sales.
– **Sale Price Comparison:** Typical FSBO home sold for $310,000, compared to $405,000 for agent-assisted sales.
– **FSBO Marketing Methods:**
– Friends, relatives, or neighbors: 20%
– Yard sign: 19%
– Third-party aggregator: 14%
– For-sale-by-owner website: 5%
– Open house: 7%
– Online classified ads: 4%
– MLS Website: 5%
– Other website with real estate listings: 1%
– Video hosting websites: 1%
– **Challenges for FSBO Sellers:**
– Preparing/fixing up home: 4%
– Getting the right price: 15%
– Understanding and performing paperwork: 7%
– Selling within the planned timeframe: 7%
– Having enough time for all aspects of the sale: 4%
– Attracting potential buyers: 4%
– Helping buyers obtain financing: 5%
