The National Association of REALTORS® (NAR) recently published their 2014 Profile of Home Buyers and Sellers.
- Thirty-three percent of recent home buyers are first-time buyers, which is still suppressed from the historical norm of 40 percent among primary residence buyers.
- Thirteen percent of buyers purchased a multi-generational home due to cost savings, children over the age of 18 moving back into the house, and health and caretaking of aging parents.
- The typical first-time buyer was 31-years-old, while the typical repeat buyer was 53.
Click here to view the complete study.