This Is What’s Happening In Home Buying In 2021!
The process of buying a home can vary from year to year. So what, exactly, is that process like in 2021?
The National Association of REALTORS® recently released their 2021 Profile of Home Buyers and Sellers, which includes key demographics about home buyers this year, including:
More than ⅓ of buyers purchased a home for the first time. First-time home buyers made up 34 percent of all buyers—an increase from 2020’s 31 percent.
Most buyers paid the asking price or more for their home. Buyers generally paid 100 percent of the asking price for their home—while nearly ⅓ of buyers (29 percent) paid more than asking.
Buyers looked at a lot of houses before buying a property. Buyers looked at a median of eight homes over eight weeks during their home search.
Most buyers use an agent… A whopping 87 percent of buyers in 2021 purchased their home through a real estate agent or a real estate broker.
…and most buyers were happy they did! 90 percent of buyers said they would use their real estate agent again in the future—or recommend their agent to friends and family looking to purchase a home.
If you are thinking about buying a home, let's connect so we can help you find your dream home for the right price and terms with the least amount of stress.