If you are reading this, you are probably one of the 90% of buyers who searched for a home online this year. According to the National Association of Realtors only 37% performed this activity 10 years ago. Here are 7 stats that have changed - or not changed over the past decade:
- 1999: 37% of buyers searched for a home online. 2009: 90% of buyers searched for a home online.
- 1999: median home value is $137,600. 2009: median home value is $172,600
- 1999: 82% of buyers purchased detached, single family homes. 2009: 78% of buyers purchased detached, single family homes.
- 1999: 46% of buyers choose suburban neighborhoods. 2009: 54% of buyers choose suburban neighborhoods.
- 1999: 68% of buyers were married couples. 2009: 60% of buyers are married couples.
- 1999 and 2009: the median age for buyers was 39.
- 1999 and 2009: "neighborhood quality, affordability, and convenience to work and school have consistently been top priorities."
I bought my Montclair home just over a decade ago --11 years to be exact-- and it has doubled in value, current market conditions notwithstanding. Happy to be living here in Essex County, NJ and not where the median home value has increased by a mere 25% (see #2, above).
(Lani Rosales, December 31, 2009, Agent Genius Blog)