2020 Home Buyers Profile

NAR – the National Association of Realtors conducted a study. A profile of sorts for homebuyers and home sellers in 2020. I thought some of the characteristics for these home buyers were pretty interesting. Curious? Read on!

31% of homebuyers were first time buyers. This stat is actually a little lower than last years, which was 33%. 

The average age of a homebuyer was 47 years old and the median household income rose to $96,500.

12% of homebuyers purchased a multigenerational home. What’s even more interesting is that from January 2020-March 2020 mostly pre-Covid-19 world wide pandemic, that % was 11%. Then from April 2020-end of the year that percentage rose to 15%. Don’t ask me how those rates end up at 12%, this is just what the NAR Profile of Home Buyers and Home Sellers said!! 

44% of home buyers who purchased a home in 2020 were specially looking for move-in ready. These home buyers were wanting to avoid renovations and problems with plumbing and/or electricity. That’s a large percentage of home buyers. 

Want to know how the current real estate market is in the Green Bay, WI or Appleton, WI area?? Contact one of our Realtors and find out!