We're here again to discuss some more information that can be found in the National Association of Realtors Buyer's and Seller's report. For people who want to enter the real estate industry, this report is really the meat and potatoes of what they need to know to get involved. We're going to summarize some of the more important parts of this report for you.
- More and more people aged 25-34 are living with their parents, and 57 million Americans were living in multi-generational households in 2012, which is double the number from 1980.
- Agents are proving to be more and more valuable with people who have underwater properties. We're seeing more and more agents lending hands to people in uncomfortable situations brought on by the market crash.
- An interesting statistic that's revealed in the report is what is forcing people to move into new homes. It seems that life changes like marriages, retirement, or having children are forcing people to move. Less people are moving out of homes because of career changes or because of a home simply becoming too small to for their needs.
- The number of people living in apartments has dramatically increased in recent years, and these people will create a lot of pent-up demand. New agents should be prospecting in apartment complexes, because we believe that this demographic will create a huge amount of demand for homes in the future.
- The type of homes that people are buying can tell us a lot about real estate as well. 84% of buyers have previously owned homes, and 50% of these homes are located in the suburbs. On average, these properties have 3 beds/ 2 baths, 1,870 sq. feet, were built in 1993, and are located only 12 miles from the previous residence of the buyers. Studies also show that 79% of buyers want a detached single-family home.
Hopefully this information has been helpful to you. We recommend taking this information and using it as a prospecting tool.
If you have any further questions about this report, please don't hesitate to contact us and ask about it.
