Who is Buying Real Estate in Florida?

Who is buying real estate in Florida? Single, first-time, women buyers who are searching on the Internet, are the ones buying Florida real estate.

With the real estate market becoming increasingly more complex, it is important to look at the different home buyers out there. The National Association of Realtors compiled a profile for Florida Realtors to help them see who their potential clients are.

Characteristics of Florida Home Buyers

• First-time buyers made up 44% of recent buyers, compared to 50% nationwide
• A typical first-time home buyer was 31 years old, while the typical repeat buyer was 54 years old
• The median household income was $53,500 among first-time buyers and $84,300 among repeat buyers
• Single females accounted for 19% of recent buyers, and 11% were single males
• 89% of home buyers used the Internet to search for homes

Characteristics of Homes Purchased

• Typical home purchased: 1,800 square feet in size, built in 1998, with 3 bedrooms and 2 full bathrooms
• Home buyers purchased single-family homes 78% of the time
• The median price of homes purchased was $161,000 compared to $179,000 nationwide

In July 2010, the National Association of Realtors (NAR) mailed an eight-page questionnaire to 111,004 consumers. These consumers purchased a home between July 2009 and June 2010. The NAR received 8,449 usable responses and used the 661 unweighted responses from Florida to form the basis for this report.

Click here to read the original blog: Spotlight on Florida Home Buyers.

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