November 27, 2015 7:00:59 am

Today’s Buyer

By Eric Thompson

Eric Thompson, President
Windermere Services Colorado

The National Association of Realtors just completed their annual survey of home buyers and sellers. From well over 6,000 respondents they compile fascinating research on the selling and buying process as seen through eyes of the consumer. Each year when the report comes out our company uses the data to make many of our strategic decisions.

In the research is some interesting insight into today’s real estate buyer. For example, the typical buyer is 44 years old and has a median household income of $86,100. The typical buyer takes 10 weeks to find a home. This is down from 12 weeks during the slow market of 2009 and 2010, but higher than the go-go market of the mid-2000’s when it was only 8 weeks.

A long-term trend we have our eye on is first time buyer activity. They only make up 32% of all sales. Since 2001, they tend to compromise 40% of all sales. They site challenges with accumulating down payment funds and stricter lending guidelines as obstacles to ownership. The national market needs this trend to reverse in order to sustain the long-term health of the market.

SPONSORED CONTENT

Save the date for the 2016 Windermere Real Estate Forecast, January 21st at the Marriott in Fort Collins;
5:30 to 7:00 pm. RSVP to 970-460-3033 or fortcollins@windermere.com.