2018 Home Buyer Search Trends and What They Mean For Sellers
According to research by the National Association of Realtors, here is how buyers are doing their searches:
- Among nearly all generations of home buyers, the first step taken was to look online for properties, except for buyers 72 years and older who contacted a real estate agent first.
- Buyers typically searched for 10 weeks and looked at a median of 10 homes. The length of the home search was the longest for buyers 53 to 71 years at 10 weeks. For all other generations, buyers searched for eight weeks. Buyers 38 to 71 viewed a median of 10 homes this year, nine homes for buyers 37 years and younger and just six homes of buyers 72 years and older.
- When looking during the home search process, buyers 37 and younger were the most likely generation to consider purchasing a home that was in foreclosure.
- As a result of an internet home search, buyers most often walked through the home that they viewed online. Buyers 37 years and younger saw the exterior of homes because of searching online for properties. The most important website feature was photos for nine in 10 buyers under the age of 62. Virtual tours were most important to buyers age 53 to 71 who were also moving the longest distance.
Are you selling your home? What does this mean for you? From the research findings, we know buyers are finding their homes online. Hiring a realtor who specializes in staging your property to sell, provides high-end photography, and has a robust online presence both on websites and in social media is essential. Please give me a call to learn more about how I can help you reach the most buyers possible before they even walk through your door!