Real estate statistics give buyers and agents data-based insight into the constantly shifting housing market. This can be helpful when setting buying expectations, finding the right property, and negotiating the right price for a home.
1. People under 35 years old make up 35% of homeowners.
2. The average price of luxury homes has fallen 1.6% between 2018 & 2019.
3. More than 78% of homeowners are 65 years old or older.
4. Millennials make up 73–75% of new buyers in mid-sized towns Madison, Wisconsin & Grand Rapids, Michigan.
5. More than 646,000 houses sold in the U.S. in June 2019, up from 618,000 in June 2018.
6. The median price of a home in the U.S. in 2019 is $277,000.
7. By 2020, 22% of total drone usage will be for real estate video.
8. On average, it takes a homebuyer 30–45 days to buy a property.
9. Studies show the best cities for families are Fishers & Carmel, Indiana.
10. First-time homebuyers are predicted to comprise 33% of the market in 2019.
11. Only 28% of homebuyers found a home using an agent.
12. Dallas, Houston & Miami are the least competitive housing markets for buyers.
13. Homes listed online on Thursday sell, on average, for $3,015 more than the listing price.
14. Homes that are staged sell 25% faster.
15. Only 8% of homeowners regret buying instead of renting.
16. Americans spend, on average, 50% of their earnings on buying a home.
17. Homebuyers in 2019 are spending 3 fewer days searching for homes than they did in 2018.
18. Millennials will have 45% of all U.S. mortgages in 2019
19. The highest home ownership rate is in the Midwest at 68.2%.
20. GenXers purchase the largest homes at 2,100 square feet.
21. Approximately 50% of buyers found their homes on the internet in 2018.
22. There are over 92,000 agents listed on Zillow.
23. The number of renters aged 60-plus grew 43% between 2007 & 2017.
24. Married people make up 63% of all homeowners.
25. The cost of renting increased in 66% of counties across the U.S. between March & April 2019.
26. GenX makes up the second largest segment of home sellers.
27. In 2019, a property is on the market for 40 days on average before purchase.
Understanding the real estate statistics of your area can help you make informed decisions about the right property and price—or guide an agent to the right market for the greatest success. Armed with data about the trends in homeownership, generational buying habits, and use of technology, agents and homeowners can make the most of real estate in 2020 and beyond!