2016 Profile of Home Buyers and Sellers
Texas Report
Prepared for:
Texas Association of REALTORS®
Prepared by:
NATIONAL ASSOCIATION OF REALTORS®
Research Division
December 2016
2016 Profile of Home Buyers and Sellers
NATIONAL ASSOCIATION OF REALTORS®
2016 Profile of Home Buyers and Sellers
Texas Report
Table of Contents
Introduction ........................................................................................................................................................ 2
Highlights ............................................................................................................................................................ 4
Methodology ..................................................................................................................................................... 9
Report Prepared
by:
Jessica Lautz
Brandi Snowden
Amanda Riggs
Brian Horowitz
202-383-1155
202-383-1048
202-383-1285
202-383-1104
2016 Profile of Home Buyers and Sellers
NATIONAL ASSOCIATION OF REALTORS®
1
2016 Profile of Home Buyers and Sellers
Texas Report
Introduction
Buying a primary residence for home buyers is a financial decision but also an
emotional decision that involves many lifestyle factors. For most home buyers, the
purchase of a primary residence is one of the largest financial transactions they will
make. Buyers purchase a home not only for the desire to own a home of their own, but
also because of changes in jobs, family situations, and the need for a smaller or larger
living area. This annual survey conducted by the NATIONAL ASSOCIATION OF
REALTORS® of recent home buyers and sellers helps to gain insight into detailed
information about their unique experience with this transaction. The information
provided supplies understanding, from the consumer level, of the trends that are
transpiring. The survey covers information on demographics, housing characteristics
and the experience of consumers in the housing market. Buyers and sellers also provide
valuable information on the role that real estate professionals play in home sales
transactions.
This year’s 2016 Profile of Home Buyers and Sellers is a special commemorative
anniversary report. NAR has administered the survey since 1981. To mark the 35th year of
publication, the report highlights key trends in home buyer and seller behavior that has
changed or stayed the same over the decades with historical trend line data. In this
year’s edition, there are expanded time series using the history of the collection.
The report has grown and evolved to keep up with changing home buying trends and
the need for more information. The 1981 survey was just 59 questions long. The 2016
survey contained 132 questions. Although the report has evolved, data has been
collected for more than three decades describing the demographic characteristics of
home buyers and sellers, buyers and sellers’ experience in the home transaction
process as well as market characteristics including the use of real estate agents. One
measure of how the market has changed is the manner in which the data is collected.
In 1981 only a paper copy of the survey was offered. Today recent home buyers can
take the survey via paper or online, and in English or Spanish. Because of its long history
and timely information available each year, the report is valued by REALTORS®, market
analysts, and policymakers.
Data is collected from a nationally representative sample of recent home buyers who
purchased a primary residence in the 12-month period between July and June. Data is
also representative of the geographic distribution of home sales. Consumer names are
obtained from Experian, a firm that maintains an extensive database of recent home
buyers derived from county records.
Today the data set provides a wealth of data that it is used to create a number of spinoff NAR reports including: Home Buyer and Seller Generational Trends Report, Recent
Home Buyer Profiles, Profile of Home Buyers and Sellers in Sub-regions, Real Estate in a
2016 Profile of Home Buyers and Sellers
NATIONAL ASSOCIATION OF REALTORS®
2
Digital Age, Veterans and Active Military Home Buyers and Sellers Profile, and Moving
with Kids.
In 2016, the share of first-time home buyers was 35 percent, a three-point increase over
last year’s 32 percent. This figure gravitates back towards the historical norm at 40
percent of the market. The median household income increased again this year, likely
due to a nationwide increase in home prices caused by a lack of housing inventory.
Married and unmarried couples have double the buying power of single home buyers
in the market and may be better able to meet the price increases of this housing
market. Repeat buyers are also returning to the market.
Tightened inventory is affecting the home search process of buyers. Due to suppressed
inventory levels in many areas of the country, buyers are typically purchasing more
expensive homes as prices increase. The number of weeks a buyer is searching for a
home remained at 10 weeks. Buyers continue to report the most difficult task for them in
the home buying process is just finding the right home to purchase.
Increased prices are also impacting sellers. Tenure in the home has returned to a peak
of 10 years again this year. Historically, tenure in the home has been six to seven years.
Sellers may now have the equity and buyer demand to sell their home after stalling or
delaying their home sale.
Buyers need the help of a real estate professional to help them find the right home for
them, negotiate terms of sale, and help with price negotiations. Sellers, as well, turn to
professionals to help market their home to potential buyers, sell within a specific
timeframe, and price their home competitively. For-sale-by-owner sales have dropped
to the lowest level recorded in this data set at eight percent of sales again this year,
while the use of the agent to sell the home stays at historic highs. Likewise, the buyer
use of the agent is at historic highs as buyers purchasing directly from a previous owner
or through a builder falls.
This report provides real estate professionals with insights into the needs and
expectations of their clients. What do consumers want when choosing a real estate
professional? How do home buyers begin the process of searching for a home? Why do
some sellers choose to forego the assistance of an agent? The answers to these
questions, along with other findings in this report, will help real estate professionals better
understand the housing market and also provide the information necessary to address
the needs of America’s real estate consumers.
2016 Profile of Home Buyers and Sellers
NATIONAL ASSOCIATION OF REALTORS®
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2016 Profile of Home Buyers and Sellers
Texas Report
Highlights
Characteristics of Home Buyers
First-time buyers made up 35 percent of all home buyers, an increase over last
year’s near all-time low of 32 percent. In Texas, 30 percent were first-time buyers.
The typical buyer was 44 years old again for the third straight year in a row, and
the median household income for 2015 rose again this year to $88,500. In Texas,
buyers were 46 years old and have a median income of $94,200.
Sixty-six percent of recent buyers were married couples, 17 percent were single
females, seven percent were single males, and eight percent were unmarried
couples. In Texas, 66 percent were married couples, 19 percent were single
females, nine percent were single males, and four percent were unmarried
couples.
Eleven percent of home buyers purchased a multi-generational home, to take
care of aging parents, for cost savings, and because of children over the age of
18 moving back home. In Texas, that share was 15 percent.
Ninety percent of recent home buyers identified as heterosexual, three percent
as gay or lesbian, one percent as bisexual, and seven percent preferred not to
answer. In Texas, 93 percent identified as heterosexual, and two percent as gay
or lesbian.
Eighteen percent of recent home buyers are veterans and two percent are
active-duty service members. Twenty-three percent are veterans and one
percent are active-duty service members in Texas.
At 31 percent, the primary reason for purchasing a home was the desire to own
a home of their own. In Texas, this was 27 percent.
Characteristics of Homes Purchased
Buyers of new homes made up 14 percent and buyers of previously owned
homes made up 86 percent. In Texas, this share is 23 percent for new homes and
77 percent for previously owned homes.
Most recent buyers who purchased new homes were looking to avoid
renovations and problems with plumbing or electricity at 34 percent. Buyers who
purchased previously-owned homes were most often considering a better price
at 32 percent. In Texas, 38 percent of new home buyers were looking to avoid
renovations or problems with plumbing or electricity and 33 percent of previously
owned homes were looking for a better price.
Detached single-family homes continue to be the most common home type for
recent buyers at 83 percent, followed by seven percent of buyers choosing
townhomes or row houses. In Texas, buyers bought detached single-family
homes at 87 percent.
2016 Profile of Home Buyers and Sellers
NATIONAL ASSOCIATION OF REALTORS®
4
Senior related housing stayed the same this year at 14 percent, with 20 percent
of buyers typically purchasing condos and eight percent purchasing a
townhouse or row house. Seven percent bought senior related homes in Texas.
There was only a median of 12 miles between the homes that recent buyers
purchased and the homes that they moved from. In Texas, it was 15 miles.
Home prices increased slightly this year to a median of $227,700 among all
buyers. Buyers typically purchased their homes for 98 percent of the asking price.
In Texas, the median home price was $214,000 at 100 percent of the asking
price.
The typical home that was recently purchased was 1,900 square feet, had three
bedrooms and two bathrooms, and was built in 1991. In Texas, the typical home
was 2,060 square feet and built in 2003.
Overall, buyers expect to live in their homes for a median of 12 years, while 18
percent say that they are never moving. In Texas, that number is 10 years.
The Home Search Process
For 44 percent of recent buyers, the first step that they took in the home buying
process was to look online at properties for sale, while 17 percent of buyers first
contacted a real estate agent. In Texas, 29 percent first contacted a real estate
agent.
Seventy-nine percent of recent buyers found their real estate agent to be a very
useful information source. Online websites were seen as the most useful
information source at 86 percent. Eighty-two percent found online websites, and
80 percent found real estate agents to be very useful in the home search
process in Texas.
Buyers typically searched for 10 weeks and looked at a median of 10 homes. In
Texas, buyers searched for eight weeks and looked at 10 homes.
The typical buyer who did not use the internet during their home search spent
only four weeks searching and visited four homes, compared to those who did
use the internet and searched for 10 weeks and visited 10 homes. In Texas, those
who did no search the internet looked at five homes over three weeks.
Among buyers who used the internet during their home search, 89 percent of
buyers found photos and 85 percent found detailed information about
properties for sale very useful. In Texas, 93 percent found photos useful in their
home search process.
Sixty percent of recent buyers were very satisfied with their recent home buying
process, up from 59 percent a year ago. In Texas, 59 percent were very satisfied
with the buying process.
Home Buying and Real Estate Professionals
Eighty-eight percent of buyers recently purchased their home through a real
estate agent or broker, and six percent purchased directly from a builder or
builder’s agent. In Texas, 86 percent purchase through a real estate agent.
Having an agent to help them find the right home was what buyers wanted most
when choosing an agent at 50 percent. In Texas, 49 percent worked with an
agent to find the right home.
2016 Profile of Home Buyers and Sellers
NATIONAL ASSOCIATION OF REALTORS®
5
Forty-two percent of buyers used an agent that was referred to them by a friend,
neighbor, or relative and 11 percent used an agent that they had worked with in
the past to buy or sell a home. In Texas, 39 percent used referrals to find their real
estate agent.
Nearly seven in 10 buyers interviewed only one real estate agent during their
home search. In Texas, this was also seven in 10.
Eighty-eight percent of buyers would use their agent again or recommend their
agent to others. Ninety percent would recommend their agent again in Texas.
Financing the Home Purchase
Eighty-eight percent of recent buyers financed their home purchase on a
national level and 86 percent in Texas. Those who financed their home purchase
typically financed 90 percent and in Texas it was 94 percent.
First-time buyers who financed their home typically financed 94 percent of their
home compared to repeat buyers at 86 percent. In Texas, the share was 95
percent of first-time buyers and 87 percent of repeat buyers.
For 61 percent of buyers, the source of the downpayment came from their
savings. Thirty-five percent of buyers cited using the proceeds from the sale of a
primary residence, which was the next most commonly reported way of securing
a downpayment. In Texas, 85 percent used savings and 38 percent used a gift
from a relative or friend.
Forty percent of buyers saved for their downpayment for six months or less. In
Texas, this was 24 percent.
The most difficult step in the home buying process was saving for a
downpayment, as cited by 13 percent of respondents. In Texas, 11 percent said
saving was the most difficult step.
Of buyers who said saving for a downpayment was difficult, 49 percent of buyers
reported that student loans made saving for a downpayment difficult. Forty
percent cited credit card debt, and 34 percent cited car loans as also making
saving for a downpayment hard. In Texas, 36 percent reported having student
loan debt, 36 percent had credit card debt, 32 percent had child care loans,
and 32 percent had health care costs.
Buyers continue to see purchasing a home as a good financial investment.
Eighty-two percent reported they view a home purchase as a good investment
and 91 percent in Texas.
Home Sellers and Their Selling Experience
The typical home seller was 54 years old, with a median household income of
$100,700. In Texas, the median age was 46 years with a median income of
$105,600.
For all sellers, the most commonly cited reason for selling their home was that it
was too small (18 percent), followed by the desire to move closer to friends and
family (15 percent), and a job relocation (14 percent). In Texas, the reasons were
job relocation (24 percent), followed by the home was too small (16 percent),
change in family situation (e.g., marriage, birth of a child, divorce) (12 percent),
and that the neighborhood has become less desirable (12 percent).
2016 Profile of Home Buyers and Sellers
NATIONAL ASSOCIATION OF REALTORS®
6
Sellers typically lived in their home for 10 years before selling, an increase from
nine years in last year’s report. In Texas, sellers sold after 9 years.
Eighty-nine percent of home sellers worked with a real estate agent to sell their
home and 88 percent in Texas.
For recently sold homes, the final sales price was a median 98 percent of the
final listing price and in Texas it was 99 percent.
Recently sold homes were on the market for a median of four weeks and also
four weeks in Texas.
Thirty-six percent of all sellers offered incentives to attract buyers; this was 44
percent in Texas.
This year, home sellers cited that they sold their homes for a median of $43,100
more than they purchased it. In Texas, the median was $43,250.
Sixty-one percent of sellers were very satisfied with the selling process and 62
percent in Texas.
Home Selling and Real Estate Professionals
Sixty-four percent of sellers found their agent through a referral from a friend,
neighbor, or relative or used an agent they had worked with before to buy or sell a
home. In Texas, that figure was 67 percent.
Seventy-two percent of recent sellers contacted only one agent before finding
the right agent they worked with to sell their home. In Texas, it was 79 percent.
Ninety-two percent of sellers listed their homes on the Multiple Listing Service (MLS),
which is the number one source for sellers to list their home. In Texas, it was 87
percent.
Agents receive their compensation predominantly from sellers at 77 percent and
at 70 percent in Texas.
The typical seller has recommended their agent twice since selling their home.
Thirty-three percent of sellers recommended their agent three or more times since
selling their home. In Texas, the typical seller has recommended their agent one
time.
Eighty-five percent said that they would definitely (70 percent) or probably (15
percent) recommend their agent for future services. In Texas, 73 percent said
definitely and 10 percent said probably.
2016 Profile of Home Buyers and Sellers
NATIONAL ASSOCIATION OF REALTORS®
7
Methodology
In July 2016, NAR mailed out a 132-question survey using a random sample weighted to
be representative of sales on a geographic basis to 93,171 recent home buyers. The
recent home buyers had to have purchased a primary residence home between July
of 2015 and June of 2016. A total of 5,465 responses were received from primary
residence buyers. After accounting for undeliverable questionnaires, the survey had an
adjusted response rate of 5.9 percent. For Texas there were 303 responses, accounting
for a response rate of 4.6 percent.
Respondents had the option to fill out the survey via hard copy or online. The online
survey was available in English and Spanish.
Consumer names and addresses were obtained from Experian, a firm that maintains an
extensive database of recent home buyers derived from county records. Information
about sellers comes from those buyers who also sold a home.
All information in this Profile is characteristic of the 12-month period ending June 2015,
with the exception of income data, which are reported for 2014. In some sections
comparisons are also given for results obtained in previous surveys. Not all results are
directly comparable due to changes in questionnaire design and sample size. Some
results are presented for the four U.S. Census regions: Northeast, Midwest, South and
West. The median is the primary statistical measure used throughout this report. Due to
rounding and omissions for space, percentage distributions may not add to 100
percent.
Data gathered in the report is based on primary residence home buyers. From the 2016
Investment and Vacation Home Buyer Survey, 65 percent of home buyers were primary
residence buyers, which accounts for 3,738,000 homes sold in 2015. Using that
calculation, the sample at the 95 percent confidence level the confidence interval is
plus-or-minus 1.32%.
2016 Profile of Home Buyers and Sellers
NATIONAL ASSOCIATION OF REALTORS®
8
Texas
2016 Profile of Home Buyers and Sellers
Prepared by:
NATIONAL ASSOCIATION OF REALTORS®
Research Division
December 2016
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-2
Exhibit 1-3
Exhibit 1-4
Exhibit 1-5
Exhibit 1-6
Exhibit 1-7
Exhibit 1-8
Exhibit 1-9
Exhibit 1-10
Exhibit 1-11
Exhibit 1-12
Exhibit 1-13
Exhibit 1-14
Exhibit 1-15
Exhibit 1-16
Exhibit 1-17
Exhibit 1-18
Exhibit 1-19
Exhibit 1-20
Exhibit 1-21
Exhibit 1-22
Exhibit 1-23
Exhibit 1-24
Exhibit 1-25
Exhibit 1-26
Exhibit 1-27
AGE OF HOME BUYERS, BY REGION
HOUSEHOLD INCOME OF HOME BUYERS, BY REGION, 2015
ADULT COMPOSITION OF HOME BUYER HOUSEHOLDS, 1981-2016
NUMBER OF CHILDREN UNDER THE AGE OF 18 RESIDING IN HOUSEHOLD
HOME PURCHASED WAS A MULTI-GENERATIONAL HOME (WILL HOME ADULT SIBLINGS, ADULT CHILDREN, PARENTS, AND/OR GRANDPARENTS)
HOME BUYER SEXUAL ORIENTATION
RACE/ETHNICITY OF HOME BUYERS, BY REGION
RACE/ETHNICITY OF HOME BUYERS, BY ADULT COMPOSITION OF HOUSEHOLD
PRIMARY LANGUAGE SPOKEN IN HOME BUYER HOUSEHOLD, BY REGION
NATIONAL ORIGIN OF HOME BUYERS, BY REGION
SELF OR SPOUSE/PARTNER IS ACTIVE MILITARY OR VETERAN
FIRST-TIME HOME BUYERS
FIRST-TIME HOME BUYERS, BY REGION
FIRST-TIME AND REPEAT HOME BUYERS BY HOUSEHOLD TYPE
FIRST-TIME AND REPEAT HOME BUYERS BY CHILDREN IN HOUSEHOLD
AGE OF FIRST-TIME AND REPEAT BUYERS
HOUSEHOLD INCOME OF FIRST-TIME AND REPEAT BUYERS, 2015
RACE/ETHNICITY OF FIRST-TIME AND REPEAT BUYERS
PRIMARY LANGUAGE SPOKEN IN FIRST-TIME AND REPEAT BUYER HOUSEHOLDS
NATIONAL ORIGIN OF FIRST-TIME AND REPEAT BUYERS
PRIOR LIVING ARRANGEMENT OF FIRST-TIME AND REPEAT BUYERS
PRIOR LIVING ARRANGEMENT, BY ADULT COMPOSITION OF HOUSEHOLD
PRIMARY REASON FOR PURCHASING A HOME, FIRST-TIME AND REPEAT BUYERS
PRIMARY REASON FOR PURCHASING A HOME, BY ADULT COMPOSITION OF HOUSEHOLD
PRIMARY REASON FOR THE TIMING OF HOME PURCHASE, FIRST-TIME AND REPEAT BUYERS
OTHER HOMES OWNED, BY AGE
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Exhibit 1-1
MEDIAN AGE OF HOME BUYERS 1981-2016
(Percentage Distribution)
Median Age Home Buyers 1981-2016
55
Year
1981
1985
1987
1989
1991
1993
1995
1997
2000
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
All Buyers
31
33
35
34
35
41
37
35
39
36
40
39
40
41
39
39
39
39
45
42
42
44
44
44
First-time
Buyers
29
29
29
30
28
36
31
32
32
31
32
32
32
32
31
30
30
30
31
31
31
31
31
32
Repeat
Buyers
36
37
39
40
42
44
36
39
45
41
46
45
46
47
46
47
48
49
53
51
52
53
53
52
53
51
50
45
42
40
35
39
36
35
34
31
30
29 29 29
41
41
39 39
37
33
30
40
46
45
44
35
37
36 36
31
35
32 32
40
45
39
46
40
47
46
47
48
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
53 53
52
49
45
44 44 44
42 42
41
39 39 39 39
36
31
32 32 32 32
31
30 30 30
28
25
All Buyers
52
First-time Buyers
Repeat Buyers
31 31 31 31 31
32
CHARACTERISTICS OF HOME BUYERS
Texas
Number of Total Respondents =
303
Exhibit 1-2
AGE OF HOME BUYERS, BY REGION
(Percentage Distribution)
BUYERS WHO PURCHASED A HOME IN THE
18 to 24 years
25 to 34 years
35 to 44 years
45 to 54 years
55 to 64 years
65 to 74 years
75 years or older
Median age (years)
Texas
2%
20
23
23
17
12
2
46
U.S.
2%
26
22
17
16
13
4
44
Northeast
2%
34
22
15
14
11
3
40
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Midwest
3%
32
21
17
15
9
4
41
South
2%
22
22
18
17
15
4
47
West
1%
24
24
17
16
14
4
45
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-3
HOUSEHOLD INCOME OF HOME BUYERS, BY REGION, 2015
(Percentage Distribution)
BUYERS WHO PURCHASED A HOME IN THE
Less than $25,000
$25,000 to $34,999
$35,000 to $44,999
$45,000 to $54,999
$55,000 to $64,999
$65,000 to $74,999
$75,000 to $84,999
$85,000 to $99,999
$100,000 to $124,999
$125,000 to $149,999
$150,000 to $174,999
$175,000 to $199,999
$200,000 or more
Median income (2014)
Texas
3%
5
6
6
8
7
7
13
18
9
6
6
7
$94,200
U.S.
3%
5
7
8
8
9
8
12
15
9
5
4
8
$88,500
Northeast
2%
5
7
8
8
8
8
14
14
8
4
4
9
Midwest
4%
7
7
10
9
8
9
12
15
8
5
2
5
$88,200
$82,100
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
South
3%
6
6
7
8
9
8
11
15
9
6
4
10
$89,800
West
2%
4
7
9
8
8
7
12
16
9
6
4
9
$92,700
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-4
ADULT COMPOSITION OF HOME BUYER HOUSEHOLDS, 1981-2016
(Percentage Distribution)
Texas
Married couple
Single female
Single male
Unmarried couple
Other
2016
66%
19
9
4
1
U.S.
Married couple
Single female
Single male
Unmarried couple
Other
81%
80%
70%
73%
1981
73%
11
10
6
-
1985
81%
10
6
3
-
1987
79%
10
7
3
-
1989
74%
13
10
3
-
1991
76%
14
10
*
-
1993
68%
16
10
5
*
1995
70%
14
9
6
1
1997
64%
18
11
5
2
1999
66%
18
9
6
1
2001
68%
15
7
7
3
2003
59%
21
11
8
1
2004
62%
18
8
9
2
2005
61%
21
9
7
2
2006
61%
22
9
7
1
2007
62%
20
9
7
2
79%
74%
76%
68%
70%
64%
66%
68%
62%
60%
59%
61%
61%
62%
64%
61%
60%
65%
66%
65%
67%
66%
58%
50%
40%
30%
20%
10%
0%
21
18
18
18
21
22
20
20
21
20
18
17
16
16
16
15
12
11
11
10
10
10
10
10
10
9
9
9
9
9
9
9
9
9
9
8
8
8
8
8
8
8
7
7
7
7
7
7
7
7
7
7
6
6
6
5
5
3
3
3
3
2
2
2
2
2
2
2
2
2
2
1
1
1
1
1
1
1
0
0
0
0
0
0
1981 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
11
10
6
13
10
14
10
16
14
Married couple
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
15
Single female
Single male
Unmarried couple
Other
2008
61%
20
10
7
2
2009
60%
21
10
8
1
2010
58%
20
12
8
1
2011
64%
18
10
7
1
2012
65%
16
9
8
2
2013
66%
16
9
7
2
2014
65%
16
9
8
2
2015
67%
15
9
7
2
2016
66%
17
7
8
2
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-5
NUMBER OF CHILDREN UNDER THE AGE OF 18 RESIDING IN HOUSEHOLD
(Percentage Distribution of Households)
NUMBER OF CHILDREN UNDER THE AGE OF 18
RESIDING IN HOUSEHOLD
Texas
One
Two
Three or more
None
(Percentage Distribution of Households)
15%
14%
8%
64%
Texas
One, 15%
Two, 14%
None, 64%
NUMBER OF CHILDREN UNDER THE AGE OF 18
RESIDING IN HOUSEHOLD
U.S.
One
Two
Three or more
None
Three or
more, 8%
(Percentage Distribution of Households)
15%
16%
7%
62%
U.S.
One, 15%
Two, 16%
None, 62%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Three or
more, 7%
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-6
HOME PURCHASED WAS A MULTI-GENERATIONAL HOME (WILL HOME ADULT SIBLINGS, ADULT CHILDREN, PARENTS, AND/OR GRANDPARENTS)
(Percent of Respondents)
Texas
All Buyers
Multi-generational household
15%
Reasons for purchase:
Children/relatives over 18 moving back into the house
13%
Health/Caretaking of aging parents
25
Cost Savings
19
To spend more time with aging parents
6
Children/relatives over 18 never left home
4
Wanted a larger home that multiple incomes could afford together 13
None of the above
17
Other
10
U.S.
All Buyers
Multi-generational household
11%
Reasons for purchase:
Health/Caretaking of aging parents
19%
Cost Savings
18
Children/relatives over 18 moving back into the house
14
To spend more time with aging parents
8
Wanted a larger home that multiple incomes could afford together 7
Children/relatives over 18 never left home
6
None of the above
26
Other
7
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
ADULT COMPOSITION OF HOUSEHOLD
Other
Children
under 18
in home
No
children
in home
50%
10%
18%
100
50
100
10%
30
40
*
*
50
11%
25
14
8
3
11
17
11
Married
couple
Single
female
Single
male
Unmarried
couple
14%
12%
23%
27%
18%
25
14
4
4
11
21
7
14
14
29
14
29
*
*
*
*
*
*
100
*
CHILDREN IN HOME
10
20
20
60
ADULT COMPOSITION OF HOUSEHOLD
Married
couple
Single
female
Single
male
Unmarried
couple
12%
12%
12%
6%
17%
16
17
8
8
6
27
5
21%
21
10
8
2
10
21
14
9%
25
4
9
4
4
36
9
24%
16
8
8
13
*
21
8
CHILDREN IN HOME
Other
Children
under 18
in home
No
children
in home
23%
13%
11%
58%
27
4
*
23
*
8
4
20%
21
15
9
7
7
20
7
19%
16
13
7
7
6
30
7
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-7
HOME BUYER SEXUAL ORIENTATION
(Percentage Distribution)
Texas
Heterosexual or straight
Gay or lesbian
Bisexual
Prefer not to answer
93%
2%
*
5%
U.S.
Heterosexual or straight
Gay or lesbian
Bisexual
Prefer not to answer
90%
3%
1%
7%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-8
RACE/ETHNICITY OF HOME BUYERS, BY REGION
(Percent of Respondents)
BUYERS WHO PURCHASED A HOME IN THE
White/Caucasian
Hispanic/Latino/Mexican/
Puerto Rican
Asian/Pacific Islander
Black/African-American
Other
Texas
78%
U.S.
85%
Northeast
92%
Midwest
91%
South
82%
West
80%
14
4
5
3
7
5
4
3
3
3
2
2
5
3
3
2
8
4
7
2
9
9
2
5
Note: Respondents were permitted to select as many races and ethnicities as they felt applicable.
The percentage distribution may therefore sum to more than 100 percent.
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-9
RACE/ETHNICITY OF HOME BUYERS, BY ADULT COMPOSITION OF HOUSEHOLD
(Percent of Respondents)
Texas
White/Caucasian
Black/African-American
Hispanic/Latino
Asian/Pacific Islander
Other
ADULT COMPOSITION OF HOUSEHOLD
All Buyers
78%
5
14
4
3
Married
couple
Single
female
Single
male
Unmarried
couple
77%
6
13
4
2
85%
6
8
6
2
77%
*
23
*
4
82%
*
18
5
*
CHILDREN IN HOME
Other
Children
under 18
in home
No
children
in home
50%
*
25
25
*
70%
6
16
3
4
82%
5
12
4
1
* Less than 1 percent
U.S.
White/Caucasian
Hispanic/Latino/Mexican/
Puerto Rican
Asian/Pacific Islander
Black/African-American
Other
ADULT COMPOSITION OF HOUSEHOLD
All Buyers
85%
7
5
4
3
Other
Children
under 18
in home
No
children
in home
92%
78%
79%
89%
4
2
3
1
13
6
1
6
11
7
6
3
4
3
4
2
Married
couple
Single
female
Single
male
Unmarried
couple
84%
87%
83%
8
6
4
3
5
2
7
2
7
4
7
2
Note: Respondents were permitted to select as many races and ethnicities as they felt applicable.
The percentage distribution may therefore sum to more than 100 percent.
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
CHILDREN IN HOME
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-10
PRIMARY LANGUAGE SPOKEN IN HOME BUYER HOUSEHOLD, BY REGION
(Percentage Distribution)
Texas
96%
4
English
Other
100%
U.S.
96%
4
BUYERS WHO PURCHASED A HOME IN THE
Northeast
Midwest
South
97%
97%
96%
3
3
4
4
3
3
4
4
96%
97%
97%
96%
96%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
U.S.
Northeast
Midwest
English
Other
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
South
West
West
96%
4
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-11
NATIONAL ORIGIN OF HOME BUYERS, BY REGION
(Percentage Distribution)
BUYERS WHO PURCHASED A HOME IN THE
Texas
92%
8
Born in U.S.
Not born in U.S.
100%
U.S.
90%
10%
Northeast
93%
7%
10%
7%
6%
90%
93%
94%
Midwest
94%
6%
South
89%
11%
11%
12%
89%
88%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
U.S.
Northeast
Midwest
Born in U.S.
South
Not born in U.S.
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
West
West
88%
12%
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-12
SELF OR SPOUSE/PARTNER IS ACTIVE MILITARY OR VETERAN
(Percentage Distribution)
Texas
An active-duty service member
A veteran
Neither
1%
23%
77%
U.S.
An active-duty service member
A veteran
Neither
2%
18%
80%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-13
FIRST-TIME HOME BUYERS
(Percent of all Home Buyers)
Year
1981
1985
1987
1989
1991
1993
1995
1997
1999
2001
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Percentage
44%
37%
30%
38%
44%
41%
42%
42%
42%
42%
40%
40%
40%
36%
39%
41%
47%
50%
37%
39%
38%
33%
32%
35%
US
2016
Texas
30%
FIRST-TIME HOME BUYERS
(Percent of all Home Buyers)
80%
75%
70%
65%
60%
55%
50%
47%
50%
45%
40%
35%
30%
44%
37%
44%
41%42%42%42%42%40%40%40%
41%
39%
38%
36%
30%
39%38%
37%
35%
33%32%
30%
25%
20%
198119851987198919911993199519971999200120032004200520062007200820092010201120122013201420152016
U.S.
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
2016
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-14
FIRST-TIME HOME BUYERS, BY REGION
(Percent of all Home Buyers)
FIRST-TIME HOME BUYERS, BY REGION
(Percent of all Home Buyers)
Texas
U.S.
Northeast
Midwest
South
West
30%
35%
44%
38%
31%
32%
80%
75%
70%
65%
60%
55%
50%
44%
45%
40%
35%
30%
38%
35%
30%
31%
32%
South
West
25%
20%
Texas
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
U.S.
Northeast
Midwest
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-15
FIRST-TIME AND REPEAT HOME BUYERS BY HOUSEHOLD TYPE
(Percentage Distribution of Households)
FIRST-TIME HOME BUYERS
Texas
Married couple
Single female
Single male
Unmarried couple
Other
60%
21%
13%
5%
1%
Married couple
Single female
Single male
Unmarried couple
Other
Texas
Unmarried
couple, 5%
Single male,
13%
REPEAT HOME BUYERS
Texas
(Percentage Distribution)
Other, 1%
(Percentage Distribution)
76%
13%
6%
4%
2%
Texas
Unmarried
couple, 4%
Other, 2%
Single male, 6%
Single female,
13%
Married couple,
60%
Single female,
21%
Married couple,
76%
FIRST-TIME HOME BUYERS
U.S.
Married couple
Single female
Single male
Unmarried couple
Other
58%
18%
8%
14%
2%
Married couple
Single female
Single male
Unmarried couple
Other
U.S.
Unmarried
couple, 14%
Single male,
8%
Single female,
18%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
REPEAT HOME BUYERS
U.S.
(Percentage Distribution)
Other, 2%
(Percentage Distribution)
U.S.
71%
16%
7%
5%
2%
Unmarried
couple, 5%
Other, 2%
Single male, 7%
Married couple,
58%
Single female,
16%
Married couple,
71%
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-16
FIRST-TIME AND REPEAT HOME BUYERS BY CHILDREN IN HOUSEHOLD
(Percentage Distribution of Households)
FIRST-TIME HOME BUYERS
Texas
One
Two
Three or more
None
REPEAT HOME BUYERS
Texas
(Percentage Distribution)
19%
14%
5%
61%
One
Two
Three or more
None
Texas
One, 19%
(Percentage Distribution)
16%
14%
7%
63%
Texas
One, 16%
Two, 14%
None, 63%
Two, 14%
None, 61%
Three or more,
5%
U.S.
One
Two
Three or more
None
U.S.
FIRST-TIME HOME BUYERS
(Percentage Distribution)
19%
15%
5%
60%
Three or more,
7%
One
Two
Three or more
None
U.S.
REPEAT HOME BUYERS
(Percentage Distribution)
13%
17%
7%
63%
One, 13%
One, 19%
U
.
Two, 17%
None, 63%
None, 60%
Two, 15%
Three or more,
5%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Three or more,
7%
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-17
AGE OF FIRST-TIME AND REPEAT BUYERS
(Percentage Distribution)
Texas
18 to 24 years
25 to 34 years
35 to 44 years
45 to 54 years
55 to 64 years
65 to 74 years
75 years or older
Median age (years)
All Buyers
2%
20
23
23
17
12
2
46
First-time Buyers
7%
51
26
10
7
*
*
35
Repeat Buyers
1%
11
21
21
20
21
6
50
All Buyers
2%
26
22
17
16
13
4
44
44
50
47
33
48
First-time Buyers
5%
56
21
10
5
3
*
32
33
34
31
29
36
Repeat Buyers
*
12
23
20
21
18
6
52
51
57
55
50
52
U.S.
18 to 24 years
25 to 34 years
35 to 44 years
45 to 54 years
55 to 64 years
65 to 74 years
75 years or older
Median age (years)
Married couple
Single female
Single male
Unmarried couple
Other
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-18
HOUSEHOLD INCOME OF FIRST-TIME AND REPEAT BUYERS, 2015
(Percentage Distribution)
Texas
Less than $25,000
$25,000 to $34,999
$35,000 to $44,999
$45,000 to $54,999
$55,000 to $64,999
$65,000 to $74,999
$75,000 to $84,999
$85,000 to $99,999
$100,000 to $124,999
$125,000 to $149,999
$150,000 to $174,999
$175,000 to $199,999
$200,000 or more
Median income (2015)
All Buyers
3%
5
6
6
8
7
7
13
18
9
6
6
7
$94,200
First-time Buyers
6%
9
9
8
8
13
8
12
13
6
1
5
2
$72,700
Repeat Buyers
1%
3
5
4
8
4
7
13
20
10
9
6
11
$100,000
All Buyers
3%
5
7
8
8
9
8
12
15
9
5
4
8
$88,500
$99,173
$55,300
$69,600
$84,800
$69,100
First-time Buyers
4%
8
10
11
10
10
9
12
12
5
4
2
3
$72,000
$84,100
$48,400
$58,300
$74,600
$60,800
Repeat Buyers
2%
4
5
7
7
8
8
11
17
10
6
4
11
$98,000
$107,000
$63,700
$84,100
$102,500
$85,900
* Less than 1 percent
U.S.
Less than $25,000
$25,000 to $34,999
$35,000 to $44,999
$45,000 to $54,999
$55,000 to $64,999
$65,000 to $74,999
$75,000 to $84,999
$85,000 to $99,999
$100,000 to $124,999
$125,000 to $149,999
$150,000 to $174,999
$175,000 to $199,999
$200,000 or more
Median income (2015)
Married couple
Single female
Single male
Unmarried couple
Other
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-19
RACE/ETHNICITY OF FIRST-TIME AND REPEAT BUYERS
(Percent of Respondents)
Texas
All Buyers
78%
5
14
4
3
First-time Buyers
64%
4
3
27
5
Repeat Buyers
83%
27
5
8
2
All Buyers
White/Caucasian
85%
Hispanic/Latino/Mexican/Puerto Rican
7
Asian/Pacific Islander
5
Black/African-American
4
Other
3
First-time Buyers
79%
9
8
7
3
Repeat Buyers
88%
6
3
3
3
White/Caucasian
Black/African-American
Asian/Pacific Islander
Hispanic/Latino
Other
* Less than 1 percent
U.S.
Note: Respondents were permitted to select as many races and ethnicities as they felt applicable.
The percentage distribution may therefore sum to more than 100 percent.
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-20
PRIMARY LANGUAGE SPOKEN IN FIRST-TIME AND REPEAT BUYER HOUSEHOLDS
(Percentage Distribution)
Texas
English
Other
All Buyers
96%
4
First-time Buyers
92%
8
Repeat Buyers
97%
3
All Buyers
96%
4
First-time Buyers
93%
7
Repeat Buyers
98%
2
U.S.
English
Other
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-21
NATIONAL ORIGIN OF FIRST-TIME AND REPEAT BUYERS
(Percentage Distribution)
Texas
Born in U.S.
Not born in U.S.
All Buyers
92%
8
First-time Buyers
85%
15
Repeat Buyers
96%
4
All Buyers
90%
10
First-time Buyers
87%
13
Repeat Buyers
92%
8
U.S.
Born in U.S.
Not born in U.S.
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-22
PRIOR LIVING ARRANGEMENT OF FIRST-TIME AND REPEAT BUYERS
(Percentage Distribution)
Texas
Rented an apartment or house
Owned previous residence
Lived with parents, relatives or friends
Rented the home buyer ultimately purchased
All Buyers
First-time
Buyers
Repeat
Buyers
13%
50
36
1
27%
4
66
2
7%
69
24
*
All Buyers
First-time
Buyers
Repeat
Buyers
47%
41
11
1
4%
74
21
1
70%
24
5
1
* Less than 1 percent
U.S.
Owned previous home
Rented an apartment or house
Lived with parents/relatives/friends
Rented the home ultimately purchased
Note: After selling their previous home, buyers may have rented a home or apartment before
purchasing their next home. A first-time buyer could have acquired ownership of their previous home
(as an inheritance or gift, for example) without having been the buyer of the home. Thus, a
first-time buyer could have owned a home prior to their first home purchase.
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-23
PRIOR LIVING ARRANGEMENT, BY ADULT COMPOSITION OF HOUSEHOLD
(Percentage Distribution)
Texas
ADULT COMPOSITION OF HOUSEHOLD
All
Buyers
Rented an apartment or house
Owned previous residence
Lived with parents, relatives or friends
Rented the home buyer ultimately purchased
13%
50
36
1
U.S.
9%
54
37
1
17%
46
37
*
47%
41
11
1
Married Single
couple female
55%
38
7
1
43%
40
16
1
* Less than 1 percent
Note: After selling their previous home, buyers may have rented a home or apartment before
purchasing their next home. A first-time buyer could have acquired ownership of their previous home
(as an inheritance or gift, for example) without having been the buyer of the home. Thus, a
first-time buyer could have owned a home prior to their first home purchase.
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Single
male
Unmarried
couple
Other
23%
50
23
4
9%
18
73
*
*
*
25
75
ADULT COMPOSITION OF HOUSEHOLD
All
Buyers
Owned previous home
Rented an apartment or house
Lived with parents/relatives/friends
Rented the home ultimately purchased
Married Single
couple female
Single
male
Unmarried
couple
Other
42%
37
20
2
22%
59
18
1
45%
37
19
*
CHILDREN IN HOME
Children
No
under 18 children
in home in home
13%
52
34
1
11%
47
41
1
CHILDREN IN HOME
Children
No
under 18 children
in home in home
45%
45
9
1
52%
37
11
1
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-24
PRIMARY REASON FOR PURCHASING A HOME, FIRST-TIME AND REPEAT BUYERS
(Percentage Distribution)
Texas
Desire to own a home
Job-related relocation or move
Desire for larger home
Desire to be closer to family/friends/relatives
Change in family situation
Desire for a home in a better area
Retirement
Affordability of homes
Tax benefits
Desire to be closer to job/school/transit
Greater choice of homes on the market
Desire for smaller home
Desire for a newly built or custom-built home
Establish household
Financial security
Purchased home for family member or relative
Desire for vacation home/investment property
Other
All Buyers
First-time
Buyers
Repeat
Buyers
27%
12
8
8
8
7
4
1
*
5
*
6
1
2
4
1
1
6
62%
3
1
1
10
3
1
1
*
1
*
1
*
6
7
*
1
1
12%
16
11
11
7
9
5
1
*
6
*
8
2
1
2
1
1
7
All Buyers
First-time
Buyers
Repeat
Buyers
31%
10
8
67%
3
3
12%
14
11
8
7
6
6
5
3
3
3
2
2
1
6
1
2
1
1
6
1
3
3
*
*
8
10
9
9
7
1
4
3
1
2
1
*
*
1
*
6
*
3
*
8
U.S.
Desire to own a home of my own
Desire for larger home
Job-related relocation or move
Change in family situation (e.g. marriage, birth of
child, divorce, etc.)
Desire to be closer to family/friends/relatives
Desire for a home in a better area
Desire for smaller home
Retirement
Establish a household
Desire to be closer to job/school/transit
Affordability of homes
Financial security
Desire for a newly built or custom-built home
Tax benefits
Purchased home for family member or relative
Greater number of homes on the market for
sale/better choice
Other
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-25
PRIMARY REASON FOR PURCHASING A HOME, BY ADULT COMPOSITION OF HOUSEHOLD
(Percentage Distribution)
Texas
ADULT COMPOSITION OF HOUSEHOLD
All
Buyers
Desire to own a home
Job-related relocation or move
Desire for larger home
Desire to be closer to family/friends/relatives
Change in family situation
Desire for a home in a better area
Retirement
Affordability of homes
Tax benefits
Desire to be closer to job/school/transit
Greater choice of homes on the market
Desire for smaller home
Desire for a newly built or custom-built home
Establish household
Financial security
Purchased home for family member or relative
Desire for vacation home/investment property
Other
27%
12
8
8
8
7
4
1
*
5
*
6
1
2
4
1
1
6
U.S.
Desire to own a home of my own
31%
Desire for larger home
10
Job-related relocation or move
8
Change in family situation (e.g. marriage, birth of child,
divorce, etc.)
8
Desire to be closer to family/friends/relatives
7
Desire for a home in a better area
6
Desire for smaller home
6
Retirement
5
Establish a household
3
Desire to be closer to job/school/transit
3
Affordability of homes
3
Financial security
2
Desire for a newly built or custom-built home
2
Tax benefits
1
Purchased home for family member or relative
*
Greater number of homes on the market for sale/better choice *
Other
6
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
21%
17
12
6
7
9
3
1
1
4
*
4
2
3
2
1
1
6
37%
4
*
17
13
4
6
2
*
4
*
4
*
*
4
*
4
2
Single Unmarried
male
couple
31%
4
*
*
12
4
8
*
*
4
*
19
*
4
4
4
*
8
Other
36%
18
*
*
*
9
*
*
*
9
*
9
*
*
9
*
*
9
*
*
25
*
*
25
*
*
*
25
*
*
*
*
25
*
*
*
ADULT COMPOSITION OF HOUSEHOLD
All
Buyers
* Less than 1 percent
Married Single
couple female
Married Single
couple female
Single Unmarried
male
couple
Other
CHILDREN IN HOME
Children
No
under 18 children
in home in home
27%
13
15
1
10
7
*
1
1
5
*
3
1
4
3
1
*
6
25%
13
4
12
8
8
5
2
*
5
*
7
2
1
3
1
2
4
CHILDREN IN HOME
Children
No
under 18 children
in home in home
25%
14
10
38%
3
4
37%
2
3
50%
5
6
24%
8
2
31%
19
11
29%
6
7
5
8
7
6
5
3
3
2
1
2
1
1
*
7
11
9
4
7
5
1
3
4
3
1
1
*
*
5
16
4
5
8
4
1
2
6
3
1
2
1
*
6
10
1
4
2
2
6
2
4
2
1
*
*
*
4
24
2
6
5
2
2
7
8
6
*
*
*
*
3
10
3
7
1
1
3
5
2
1
2
1
*
*
4
7
10
6
9
7
3
2
3
2
2
1
1
*
7
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-26
PRIMARY REASON FOR THE TIMING OF HOME PURCHASE, FIRST-TIME AND REPEAT BUYERS
(Percentage Distribution)
Texas
It was just the right time, the buyer was ready to
buy a home
It was the best time because of affordability of
homes
Did not have much choice, had to purchase
It was the best time because of availability of
homes for sale
It was the best time because of mortgage
financing options available
Other
All Buyers
First-time
Buyers
Repeat
Buyers
57%
67%
52%
9
8
9
16
8
12
3
18
11
8
7
8
1
1
*
2
2
*
All Buyers
First-time
Buyers
Repeat
Buyers
55%
60%
51%
18
14
20
10
6
12
8
10
7
8
9
7
*
1
*
1
*
2
The buyer wished they had waited
U.S.
It was just the right time, was ready to buy a
home
Did not have much choice, had to purchase
when did
It was the best time for because of availability of
homes for sale
It was the best time for because of mortgage
financing options available
It was the best time for because of improved
affordability of homes
Wish had waited
Other
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
CHARACTERISTICS OF HOME BUYERS
Exhibit 1-27
OTHER HOMES OWNED, BY AGE
(Percentage Distribution)
Texas
All Buyers
Recently purchased home only
One or more vacation homes
One or more investment properties
Primary residence
Previous homes that buyer is trying to sell
Other
81%
2
10
3
4
2
18 to 24
89%
*
7
3
4
*
AGE OF HOME BUYER
25 to 44 45 to 64 65 or older
85%
79%
81%
1
5
*
9
11
14
2
3
14
4
4
4
1
1
*
18 to 24
98%
2
*
*
*
AGE OF HOME BUYER
25 to 44 45 to 64 65 or older
89%
80%
79%
9
12
8
2
4
8
1
4
6
1
4
2
U.S.
All Buyers
Recently purchased home only
One or more investment properties
Previous homes that buyer is trying to sell
One or more vacation homes
Other
85%
9
3
3
2
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-1
Exhibit 2-2
Exhibit 2-3
Exhibit 2-4
Exhibit 2-5
Exhibit 2-6
Exhibit 2-7
Exhibit 2-8
Exhibit 2-9
Exhibit 2-10
Exhibit 2-11
Exhibit 2-12
Exhibit 2-13
Exhibit 2-14
Exhibit 2-15
Exhibit 2-16
Exhibit 2-17
Exhibit 2-18
Exhibit 2-19
Exhibit 2-20
Exhibit 2-21
Exhibit 2-22
Exhibit 2-23
Exhibit 2-24
Exhibit 2-25
Exhibit 2-26
Exhibit 2-27
Exhibit 2-28
Exhibit 2-29
Exhibit 2-30
Exhibit 2-31
Exhibit 2-32
Exhibit 2-33
Exhibit 2-34
Exhibit 2-35
NEW AND PREVIOUSLY OWNED HOMES PURCHASED, 1981-2016
NEW AND PREVIOUSLY OWNED HOMES PURCHASED, BY REGION
WHY NEW AND PREVIOUSLY OWNED HOMES PURCHASED
TYPE OF HOME PURCHASED, BY LOCATION
TYPE OF HOME PURCHASED BY FIRST-TIME AND REPEAT BUYERS, AND BUYERS OF NEW
AND PREVIOUSLY OWNED HOMES
TYPE OF HOME PURCHASED, BY ADULT COMPOSITION OF HOUSEHOLD
TYPE OF HOME PURCHASED, 1981-2016
LOCATION OF HOME PURCHASED, BY REGION
LOCATION OF HOME PURCHASED BY FIRST-TIME AND REPEAT BUYERS, AND BUYERS OF
NEW AND PREVIOUSLY OWNED HOMES
LOCATION OF HOME PURCHASED VERSUS LOCATION OF HOME SOLD
SENIOR RELATED HOUSING BY TYPE OF HOME PURCHASED AND LOCATION
DISTANCE BETWEEN HOME PURCHASED AND PREVIOUS RESIDENCE
FACTORS INFLUENCING NEIGHBORHOOD CHOICE, BY LOCATION
FACTORS INFLUENCING NEIGHBORHOOD CHOICE, BY ADULT COMPOSITION OF
HOUSEHOLD AND CHILDREN IN HOUSHOLD
PRICE OF HOME PURCHASED, BY REGION
PRICE OF HOME PURCHASED, NEW AND PREVIOUSLY OWNED HOMES
PRICE OF HOME PURCHASED, FIRST-TIME AND REPEAT BUYERS
PURCHASE PRICE COMPARED WITH ASKING PRICE, BY REGION
SIZE OF HOME PURCHASED, FIRST-TIME AND REPEAT BUYERS, AND BUYERS OF NEW
AND PREVIOUSLY OWNED HOMES
SIZE OF HOME PURCHASED, BY ADULT COMPOSITION OF HOUSEHOLD
HOME SIZE AND PRICE PER SQUARE FOOT, BY REGION
NUMBER OF BEDROOMS AND BATHROOMS, BY FIRST-TIME AND REPEAT BUYERS, AND
BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
NUMBER OF BEDROOMS AND BATHROOMS, BY ADULT HOUSEHOLD COMPOSITION AND
CHILDREN IN HOUSEHOLD
YEAR HOME BUILT, BY REGION
IMPORTANCE OF COMMUTING COSTS
IMPORTANCE OF HOME'S ENVIRONMENTALLY FRIENDLY FEATURES
ENVIRONMENTALLY FRIENDLY FEATURES CONSIDERED "VERY IMPORTANT", BY REGION
ENVIRONMENTALLY FRIENDLY FEATURES CONSIDERED "VERY IMPORTANT", BY YEAR
HOME WAS BUILT
CHARACTERISTICS OF HOME ON WHICH BUYER COMPROMISED, BY LOCATION
CHARACTERISTICS OF HOME ON WHICH BUYER COMPROMISED, FIRST-TIME AND
REPEAT BUYERS, AND BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
CHARACTERISTICS OF HOME ON WHICH BUYER COMPROMISED, BY ADULT
COMPOSITION OF HOUSEHOLD
EXPECTED LENGTH OF TENURE IN HOME PURCHASED, FIRST-TIME AND REPEAT
BUYERS, AND BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
EXPECTED LENGTH OF TENURE IN HOME PURCHASED, BY AGE
FACTORS THAT COULD CAUSE BUYER TO MOVE, BY AGE
FACTORS THAT COULD CAUSE BUYER TO MOVE, BY ADULT COMPOSITION OF HOUSEHOLD
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 2, Page 1 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-1
NEW AND PREVIOUSLY OWNED HOMES PURCHASED, 1981-2016
(Percentage Distribution)
NEW AND PREVIOUSLY OWNED HOMES PURCHASED
(Percentage Distribution)
Texas
2015
Texas
100%
New
23%
Previously
Owned
77%
80%
77%
60%
40%
23%
20%
0%
2015
New
Previously Owned
NEW AND PREVIOUSLY OWNED HOMES PURCHASED
(Percentage Distribution)
U.S.
1981
1985
1987
1989
1991
1993
1995
1997
2000
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
100%
New
18%
18%
27%
29%
23%
21%
24%
18%
22%
21%
28%
21%
23%
22%
23%
21%
18%
15%
16%
16%
16%
16%
16%
14%
Previously
Owned
82%
82%
75%
71%
77%
79%
76%
82%
78%
79%
72%
79%
77%
78%
77%
79%
82%
85%
84%
84%
84%
84%
84%
86%
80%
60%
75%
82%
82%
18%
18%
71%
77%
79%
76%
21%
24%
82%
78%
79%
72%
79%
77%
21%
23%
78%
77%
79%
82%
85%
84%
84%
84%
84%
84%
86%
18%
15%
16%
16%
16%
16%
16%
14%
40%
20%
27%
29%
23%
18%
22%
21%
28%
22%
23%
21%
0%
1981 1985 1987 1989 1991 1993 1995 1997 2000 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Previously Owned
New
Chapter 2, Page 2 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-2
NEW AND PREVIOUSLY OWNED HOMES PURCHASED, BY REGION
(Percentage Distribution)
BUYERS WHO PURCHASED A HOME IN THE
Texas
23%
77
New
Previously Owned
100%
90%
New
Previously
80%
Owned
U.S.
14%
86
Northeast
5%
95
Midwest
9%
91
95%
94% BUYERS WHO PURCHASED
A HOME IN
91%THE
All Buyers
Northeast Midwest
South
6%
5%
9%
94%
95%
91%
19%
81%
South
19%
81
West
15%
85
West
81%15%
85%
85%
70%
60%
50%
40%
30%
19%
20%
10%
6%
5%
All Buyers
Northeast
15%
9%
%
New
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Midwest
Previously Owned
South
West
Chapter 2, Page 3 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-3
WHY NEW AND PREVIOUSLY OWNED HOMES PURCHASED
(Percent of Respondents)
Texas
New Home:
Avoid renovations or problems with
plumbing or electricity
Ability to choose and customize
design features
Amenities of new home construction
communities
Lack of inventory of previously
owned home
Green/energy efficiency
Other
Previously Owned Home:
Better price
Better overall value
More charm and character
Lack of inventory of new homes
Other
23%
38%
36
17
11
13
16
77%
33%
26
18
9
21
U.S.
New Home:
Avoid renovations or problems with
plumbing or electricity
Ability to choose and customize
design features
Amenities of new home construction
communities
Green/energy efficiency
Lack of inventory of previously
owned home
Smart home features
Other
Previously Owned Home:
Better price
Better overall value
More charm and character
Lack of inventory of new homes
Other
34%
30
18
10
10
4
15
32%
28
19
9
18
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 2, Page 4 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-4
TYPE OF HOME PURCHASED, BY LOCATION
(Percentage Distribution)
Texas
Detached single-family home
Townhouse/row house
Apartment/condo in building with
5 or more units
Duplex/apartment/condo in 2 to
4 unit building
Other
BUYERS WHO PURCHASED A HOME IN A
All
Buyers
Suburb/
Subdivision
87%
4
*
94%
3
*
Small
Urban/
town Central city
81%
7
*
79%
9
2
Rural
area
Resort/
Recreation
area
76%
*
*
100%
*
*
*
*
*
*
*
*
8
3
12
9
24
*
* Less than 1 percent
100%
U.S.
Detached single-family home
Townhouse/row house
Apartment/condo in building with
5 or more units
Duplex/apartment/condo in 2 to
4 unit building
Other
90%
BUYERS WHO PURCHASED A HOME IN A
Rural
area
Resort/
Recreation
area
80%
12%
2%
81%
1%
1%
72%
6%
2%
3%
3%
1%
10%
40%
8%
5%
17%
11%
30%
All
Buyers
Suburb/
Subdivision
83%
7%
1%
86%
7%
1%
82%
5%
2%
3%
3%
6%
3%
* Less than 1 percent
Small
Urban/
town Central city
86%
83%
82%
81%
80%
80%
72%
70%
60%
50%
17%
20%
12%
10%
7%
1%
3%
6%
7%
1%
3%3%
5%
8%
2%3%
2%3%
10%11%
6%
5%
1%1%1%
2%
Rural area
Resort/ Recreation
area
0%
All Buyers
Suburb/
Subdivision
Small town
Detached single-family home
Apartment/condo in building with 5 or more units
Other
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Urban/ Central city
Townhouse/row house
Duplex/apartment/condo in 2 to 4 unit building
Chapter 2, Page 5 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-5
TYPE OF HOME PURCHASED BY FIRST-TIME AND REPEAT BUYERS, AND BUYERS OF NEW AND
PREVIOUSLY OWNED HOMES
(Percentage Distribution)
Texas
Detached single-family home
Townhouse/row house
Apartment/condo in building with 5 or more units
Duplex/apartment/condo in 2 to 4 unit building
Other
All
Buyers
First-time
Buyers
Repeat
Buyers
87%
4
*
*
8
83%
7
1
*
9
90%
3
*
*
7
BUYERS OF
Previously
New
Owned
Homes
Homes
86%
4
*
*
10
89%
4
*
*
7
* Less than 1 percent
U.S.
Detached single-family home
Townhouse/row house
Apartment/condo in building with 5 or more units
Duplex/apartment/condo in 2 to 4 unit building
Other
All
Buyers
First-time
Buyers
Repeat
Buyers
83%
7%
1%
3%
6%
82%
9%
1%
2%
7%
84%
6%
1%
4%
5%
BUYERS OF
Previously
New
Owned
Homes
Homes
82%
9%
1%
3%
6%
84%
6%
1%
3%
6%
100%
90%
83%
84%
82%
84%
82%
80%
70%
60%
50%
40%
30%
20%
10%
7%
1%
3%
6%
9%
7%
1% 2%
9%
6%
1%
4% 5%
1%
3%
6%
6%
1%
3%
6%
0%
All Buyers
First-time Buyers
Detached single-family home
Apartment/condo in building with 5 or more units
Other
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Repeat Buyers
New Homes
Previously Owned Homes
Townhouse/row house
Duplex/apartment/condo in 2 to 4 unit building
Chapter 2, Page 6 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-6
TYPE OF HOME PURCHASED, BY ADULT COMPOSITION OF HOUSEHOLD
(Percentage Distribution)
Texas
ADULT COMPOSITION OF HOUSEHOLD
All
Buyers
Married
couple
87%
4
*
*
8
91%
3
1
*
5
Detached single-family home
Townhouse/row house
Apartment/condo in building with 5 or more units
Duplex/apartment/condo in 2 to 4 unit building
Other
Single Single
female male
75%
8
2
*
15
85%
4
*
*
12
CHILDREN IN HOME
Unmarried
couple Other
100
*
*
*
*
75%
25
*
*
*
Children
under 18
in home
No
children
in home
94%
2
*
*
4
86%
6
1
*
7
* Less than 1 percent
U.S.
ADULT COMPOSITION OF HOUSEHOLD
All
Buyers
Married
couple
83%
7
1
3
6
87%
5
1
2
5
Detached single-family home
Townhouse/row house
Apartment/condo in building with 5 or more units
Duplex/apartment/condo in 2 to 4 unit building
Other
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Single Single
female male
74%
12
2
6
6
74%
9
5
3
9
CHILDREN IN HOME
Unmarried
couple Other
85%
7
1
1
5
79%
6
2
3
9
Children
under 18
in home
No
children
in home
91%
4
*
1
4
79%
8
2
4
7
Chapter 2, Page 7 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-7
TYPE OF HOME PURCHASED, 1981-2016
(Percentage Distribution)
TYPE OF HOME PURCHASED, 1981-2016
Detached singlefamily home
1981
1985
1987
1989
1991
1993
1995
1997
2000
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
76%
88
85
81
85
82
83
80
82
87
79
87
75
75
74
78
78
77
77
79
80
79
83
83
Townhou
se/row
house
100
Condo
8%
4
7
9
9
9
8
9
7
16%
6
7
10
6
9
9
11
11
8
7
9
9
9
8
8
8
8
7
7
8
7
7
11
3
9
11
11
9
9
9
9
8
7
8
3
4
2
6
Other
2
1
90
16
4
1
7
10
6
9
7
9
9
80
2
9
9
8
11
9
11
13
7
11
4
3
7
6
5
5
9
11
9
9
9
75
75
74
11
8
8
5
5
6
6
7
6
6
7
9
9
9
9
8
7
8
3
8
8
8
8
7
7
8
78
78
77
77
79
80
79
7
70
60
13
2
4
6
5
5
5
5
6
6
7
6
6
7
6
50
88
40
76
85
81
85
82
83
80
82
87
87
79
83
30
20
10
0
1981 1985 1987 1989 1991 1993 1995 1997 2000 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Detached Single-Family Home
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Townhouse
Condo
Other
Chapter 2, Page 8 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-8
LOCATION OF HOME PURCHASED, BY REGION
(Percentage Distribution)
BUYERS WHO PURCHASED A HOME IN THE
Suburb/Subdivision
Small town
Urban area/Central city
Rural area
Resort/Recreation area
100%
90%
2
1
11
14
Suburb/Subdivision
80%
14
Small town
Urban
70% area/Central city
Rural area
19area
Resort/Recreation
60%
U.S
54%
19
14
11
2
Texas
54%
19
14
11
1
All Buyers
11 54%
19
14
11
2
34
Northeast
40%
34
11
14
1
Midwest
54%
17
17
11
1
South
59%
16
11
11
3
1
3
11
11 IN THE
BUYERS WHO PURCHASED A HOME
Northeast
Midwest
South
West
40%
54%
52%
1159%
17
34
17
16
19
11
17
11
17
16 11
14
11
9
17
1
1
3
3
West
52%
19
17
9
3
3
9
17
19
50%
40%
30%
54%
20%
54%
59%
52%
40%
10%
0%
All Buyers
Suburb/Subdivision
Northeast
Small town
Midwest
Urban area/Central city
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
South
Rural area
West
Resort/Recreation area
Chapter 2, Page 9 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-9
LOCATION OF HOME PURCHASED BY FIRST-TIME AND REPEAT BUYERS, AND BUYERS OF
NEW AND PREVIOUSLY OWNED HOMES
(Percentage Distribution)
Texas
Suburb/Subdivision
Small town
Urban area/Central city
Rural area
Resort/Recreation area
All
Buyers
54%
19
14
11
1
First-time
Buyers
53%
16
19
10
1
Repeat
Buyers
55%
20
12
11
1
BUYERS OF
Previously
New
Owned
Homes
Homes
61%
61%
20
20
6
6
10
10
3
3
Repeat
Buyers
57%
19%
11%
10%
3%
BUYERS OF
Previously
New
Owned
Homes
Homes
64%
52%
16%
20%
8%
15%
9%
11%
3%
2%
U.S.
Suburb/Subdivision
Small town
Urban area/Central city
Rural area
Resort/Recreation area
All
Buyers
54%
19%
14%
11%
2%
First-time
Buyers
49%
19%
20%
12%
*
70%
64%
60%
57%
54%
52%
49%
50%
40%
30%
20%
19%20%
19%
20%
19%
16%
14%
11%
12%
11%10%
15%
3%
2%
11%
8% 9%
10%
3%
2%
%
0%
All Buyers
Suburb/Subdivision
First-time Buyers
Small town
Repeat Buyers
Urban area/Central city
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
New Homes
Rural area
Previously Owned
Homes
Resort/Recreation area
Chapter 2, Page 10 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-10
LOCATION OF HOME PURCHASED VERSUS LOCATION OF HOME SOLD
(Percentage Distribution Among those that Sold a Home)
U.S.
LOCATION OF HOME PURCHASED
LOCATION
OF HOME
SOLD
Suburb/Subdivision
Small town
Urban area/Central city
Rural area
Resort/Recreation area
Suburb/
Subdivision
Small
town
Urban/
Central city
Rural
area
Resort/
Recreation
area
40%
5
5
6
1
7%
7
2
3
1
3%
1
5
1
*
3%
3
1
3
*
1%
*
1
*
1
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 2, Page 11 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-11
SENIOR RELATED HOUSING BY TYPE OF HOME PURCHASED AND LOCATION
(Percentage Distribution)
Texas
Share who purchased a home in senior related
housing
Buyers over 50 who purchased senior related housing:
Type of home purchased
Detached single-family home
Townhouse/row house
Apartment/condo in building with 5 or more units
Duplex/apartment/condo in 2 to 4 unit building
Other
Location
Suburb/ Subdivision
Small town
Urban/ Central city
Rural area
Resort/ Recreation area
All buyers over
50
7%
75%
5
*
*
20
45%
25
10
15
5
U.S.
Share who purchased a home in senior related
housing
Buyers over 50 who purchased senior related housing:
Type of home purchased
Detached single-family home
Townhouse/row house
Apartment/condo in building with 5 or more units
Duplex/apartment/condo in 2 to 4 unit building
Other
Location
Suburb/ Subdivision
Small town
Urban/ Central city
Rural area
Resort/ Recreation area
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
All buyers over
50
14%
62%
8
6
14
10
46%
26
6
11
11
Chapter 2, Page 12 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-12
DISTANCE BETWEEN HOME PURCHASED AND PREVIOUS RESIDENCE
(Median Miles)
Miles
Texas
U.S.
Northeast
Midwest
South
West
15
12
10
10
15
13
DISTANCE BETWEEN HOME PURCHASED AND
PREVIOUS RESIDENCE
(Median Miles)
20
18
16
15
14
15
13
12
12
10
10
10
Northeast
Midwest
8
6
4
2
0
Texas
U.S.
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
South
West
Chapter 2, Page 13 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-13
FACTORS INFLUENCING NEIGHBORHOOD CHOICE, BY LOCATION
(Percent of Respondents)
Texas
Quality of the neighborhood
Convenient to job
Overall affordability of homes
Convenient to friends/family
Quality of the school district
Design of neighborhood
Convenient to shopping
Convenient to schools
Convenient to entertainment/leisure activities
Convenient to parks/recreational facilities
Availability of larger lots or acreage
Convenient to health facilities
Home in a planned community
Convenient to public transportation
Convenient to airport
Other
BUYERS WHO PURCHASED A HOME IN A
All
Buyers
69%
47
28
32
47
22
16
44
15
14
25
1
11
2
6
4
Urban/
Suburb/ Small Central Rural
Subdivision town
city area
68% 66%
60% 50%
48
25
50
32
38
43
36
24
31
25
48
21
35
14
14
9
23
14
26
6
25
13
29
6
25
16
17
15
22
9
36
6
16
14
24
15
15
20
12
53
*
2
3
12
7
5
*
2
10
*
7
4
7
*
4
5
2
*
Resort/
Recreation
area
75%
25
50
50
25
25
50
25
50
50
*
25
50
*
25
25
* Less than 1 percent
U.S.
Quality of the neighborhood
Convenient to job
Overall affordability of homes
Convenient to friends/family
Quality of the school district
Convenient to shopping
Design of neighborhood
Convenient to entertainment/leisure activities
Convenient to schools
Convenient to parks/recreational facilities
Availability of larger lots or acreage
Home in a planned community
Convenient to airport
Convenient to public transportation
Convenient to health facilities
Other
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
BUYERS WHO PURCHASED A HOME IN A
All
Buyers
60%
43
40
37
26
24
20
20
20
17
16
8
6
5
1
5
Urban/
Suburb/ Small Central Rural
Subdivision town
city area
65% 57%
57% 43%
45
41
53
34
41
41
44
29
39
38
38
26
31
23
19
16
26
23
25
13
22
17
20
12
21
15
33
7
22
19
20
16
17
15
23
10
12
17
8
42
10
5
4
3
6
5
7
3
5
3
15
1
1
1
1
2
5
6
3
9
Resort/
Recreation
area
53%
21
23
30
8
25
41
33
8
24
8
33
11
3
3
11
Chapter 2, Page 14 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-14
FACTORS INFLUENCING NEIGHBORHOOD CHOICE, BY ADULT COMPOSITION OF HOUSEHOLD AND CHILDREN IN HOUSHOLD
(Percent of Respondents)
Texas
ADULT COMPOSITION OF HOUSEHOLD
Quality of the neighborhood
Convenient to job
Overall affordability of homes
Convenient to friends/family
Quality of the school district
Design of neighborhood
Convenient to shopping
Convenient to schools
Convenient to entertainment/leisure activities
Convenient to parks/recreational facilities
Availability of larger lots or acreage
Convenient to health facilities
Home in a planned community
Convenient to public transportation
Convenient to airport
Other
All
Buyers
69%
47
28
32
47
22
16
44
15
14
25
1
11
2
6
4
Married
couple
57%
42
31
29
36
28
25
29
17
14
19
13
12
3
5
4
Single
female
71%
36
44
40
9
36
27
9
18
9
13
9
2
2
9
7
Single
male
48%
61
44
48
22
17
22
13
30
9
17
17
*
*
4
*
Unmarried
couple
62%
62
48
38
24
43
24
14
33
14
10
5
10
5
10
5
Other
57%
43
29
29
14
43
29
43
14
14
14
14
14
14
*
14
CHILDREN IN HOME
Children
No
under 18 children
in home in home
62%
56%
47
42
38
33
24
37
57
14
28
30
21
28
51
9
17
20
15
12
17
18
5
17
10
9
4
2
9
6
2
6
* Less than 1 percent
U.S.
ADULT COMPOSITION OF HOUSEHOLD
Quality of the neighborhood
Convenient to job
Overall affordability of homes
Convenient to friends/family
Quality of the school district
Convenient to shopping
Design of neighborhood
Convenient to entertainment/leisure activities
Convenient to schools
Convenient to parks/recreational facilities
Availability of larger lots or acreage
Home in a planned community
Convenient to airport
Convenient to public transportation
Convenient to health facilities
Other
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
All
Buyers
60%
43
40
37
26
24
20
20
20
17
16
8
6
5
1
5
Married
couple
62%
43
37
35
31
24
22
19
23
18
19
8
6
5
2
6
Single
female
59%
43
47
49
14
27
19
21
13
13
6
9
5
6
1
6
Single
male
48%
40
35
35
13
24
14
21
13
17
15
9
7
5
1
4
Unmarried
couple
63%
57
51
36
22
26
15
32
13
19
16
5
5
6
*
4
Other
62%
44
51
35
31
23
18
17
29
26
16
5
8
7
*
8
CHILDREN IN HOME
Children
No
under 18 children
in home in home
62%
59%
48
41
40
40
33
40
49
12
20
26
19
21
15
24
43
6
19
17
21
13
8
9
5
7
4
6
1
1
3
7
Chapter 2, Page 15 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-15
PRICE OF HOME PURCHASED, BY REGION
(Percentage Distribution)
BUYERS WHO PURCHASED A HOME IN THE
Less than $75,000
$75,000 to $99,999
$100,000 to $124,999
$125,000 to $149,999
$150,000 to $174,999
$175,000 to $199,999
$200,000 to $249,999
$250,000 to $299,999
$300,000 to $349,999
$350,000 to $399,999
$400,000 to $499,999
$500,000 or more
Median price
Texas
5%
3
5
10
11
8
19
11
10
4
5
7
$214,000
U.S.
4%
5
6
8
10
9
15
11
9
6
8
10
$227,700
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Northeast
5%
4
8
10
10
9
13
12
9
6
7
8
$215,000
Midwest
8%
8
10
12
12
11
15
10
5
4
3
3
$175,000
South
4%
5
5
10
11
10
16
12
7
6
7
8
$217,000
West
1%
1
2
3
5
5
14
11
13
9
14
21
$325,000
Chapter 2, Page 16 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-16
PRICE OF HOME PURCHASED, NEW AND PREVIOUSLY OWNED HOMES
(Percentage Distribution)
Texas
BUYERS WHO PURCHASED A
Less than $75,000
$75,000 to $99,999
$100,000 to $124,999
$125,000 to $149,999
$150,000 to $174,999
$175,000 to $199,999
$200,000 to $249,999
$250,000 to $299,999
$300,000 to $349,999
$350,000 to $399,999
$400,000 to $499,999
$500,000 or more
Median price
All Buyers
5%
3
5
10
11
8
19
11
10
4
5
7
$214,000
New Home
3%
*
*
9
5
5
25
11
18
5
9
11
$260,000
Previously Owned Home
6%
5
6
10
13
10
18
11
8
4
5
5
$198,000
* Less than 1 percent
U.S.
BUYERS WHO PURCHASED A
Less than $75,000
$75,000 to $99,999
$100,000 to $124,999
$125,000 to $149,999
$150,000 to $174,999
$175,000 to $199,999
$200,000 to $249,999
$250,000 to $299,999
$300,000 to $349,999
$350,000 to $399,999
$400,000 to $499,999
$500,000 or more
Median price
All Buyers
4%
5
6
8
10
9
15
11
9
6
8
10
$227,700
New Home
1%
*
1
4
6
9
18
13
15
8
12
13
$294,000
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Previously Owned Home
5%
6
7
9
10
9
14
11
7
6
7
10
$217,000
Chapter 2, Page 17 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-17
PRICE OF HOME PURCHASED, FIRST-TIME AND REPEAT BUYERS
(Percentage Distribution)
Texas
Less than $75,000
$75,000 to $99,999
$100,000 to $124,999
$125,000 to $149,999
$150,000 to $174,999
$175,000 to $199,999
$200,000 to $249,999
$250,000 to $299,999
$300,000 to $349,999
$350,000 to $399,999
$400,000 to $499,999
$500,000 or more
Median price
All Buyers
5%
3
5
10
11
8
19
11
10
4
5
7
First-time Buyers
9%
7
8
19
19
5
14
2
6
2
2
6
Repeat Buyers
3%
2
3
6
7
10
21
15
12
5
7
7
$214,000
$166,000
$246,500
All Buyers
4%
5
6
8
10
9
15
11
9
6
8
10
$227,700
$255,000
$173,000
$190,600
$181,400
$192,500
First-time Buyers
7%
8
8
11
13
10
12
9
6
4
6
7
$182,500
$208,500
$146,300
$157,000
$165,500
$161,200
Repeat Buyers
3%
3
4
7
8
9
16
13
10
8
9
12
$250,000
$270,000
$198,000
$220,000
$245,000
$215,000
* Less than 1 percent
U.S.
Less than $75,000
$75,000 to $99,999
$100,000 to $124,999
$125,000 to $149,999
$150,000 to $174,999
$175,000 to $199,999
$200,000 to $249,999
$250,000 to $299,999
$300,000 to $349,999
$350,000 to $399,999
$400,000 to $499,999
$500,000 or more
Median price
Married couple
Single female
Single male
Unmarried couple
Other
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 2, Page 18 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-18
PURCHASE PRICE COMPARED WITH ASKING PRICE, BY REGION
(Percentage Distribution)
BUYERS WHO PURCHASED A HOME IN THE
Percent of asking price:
Less than 90%
90% to 94%
95% to 99%
100%
101% to 110%
More than 110%
Texas
9%
15
30
30
14
2
U.S.
9%
15
36
27
11
2
Northeast
12%
16
39
22
9
2
Midwest
12%
16
39
25
7
1
South
9%
15
35
29
9
3
West
5%
11
33
30
18
4
Median (purchase price
as a percent of asking
price)
100%
98%
97%
98%
98%
100%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 2, Page 19 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-19
SIZE OF HOME PURCHASED, FIRST-TIME AND REPEAT BUYERS, AND
BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
(Percentage Distribution)
Texas
1,000 sq ft or less
1,001 to 1,500 sq ft
1,501 to 2,000 sq ft
2,001 to 2,500 sq ft
2,501 to 3,000 sq ft
3,001 to 3,500 sq ft
3,501 sq ft or more
Median (sq ft)
All Buyers
First-time
Buyers
Repeat
Buyers
*
7
24
29
19
9
11
2,060
1%
14
36
27
14
3
5
1,750
*
5
18
31
21
12
14
2,210
BUYERS OF
Previously
New
Owned
Homes
Homes
*
3
19
28
21
10
19
2,490
*
9
25
30
18
9
8
1,960
U.S.
1,000 sq ft or less
1,001 to 1,500 sq ft
1,501 to 2,000 sq ft
2,001 to 2,500 sq ft
2,501 to 3,000 sq ft
3,001 to 3,500 sq ft
3,501 sq ft or more
Median (sq ft)
All Buyers
First-time
Buyers
Repeat
Buyers
*
15
27
26
15
8
9
1,900
1%
24
32
24
12
4
4
1,650
*
9
24
28
17
10
11
2,000
BUYERS OF
Previously
New
Owned
Homes
Homes
*
3
21
26
14
7
8
2,250
*
16
28
27
14
7
8
1,820
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 2, Page 20 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-20
SIZE OF HOME PURCHASED, BY ADULT COMPOSITION OF HOUSEHOLD
(Percentage Distribution)
Texas
ADULT COMPOSITION OF HOUSEHOLD
1,000 sq ft or less
1,001 to 1,500 sq ft
1,501 to 2,000 sq ft
2,001 to 2,500 sq ft
2,501 to 3,000 sq ft
3,001 to 3,500 sq ft
3,501 sq ft or more
Median (sq ft)
CHILDREN IN HOME
Children
No
under 18 children
in home in home
All Buyers
Married
couple
Single
female
Single
male
Unmarried
couple
Other
*
7
24
29
19
9
11
*
4
17
26
24
12
16
2%
12
40
34
6
4
2
*
17
29
38
13
*
4
*
9
9
36
27
18
*
*
25
20
26
15
5
10
*
5
18
21
21
9
26
1%
8
25
36
18
8
6
2,060
2,300
1,670
1,730
1,870
2,200
2,490
1,960
U.S.
ADULT COMPOSITION OF HOUSEHOLD
1,000 sq ft or less
1,001 to 1,500 sq ft
1,501 to 2,000 sq ft
2,001 to 2,500 sq ft
2,501 to 3,000 sq ft
3,001 to 3,500 sq ft
3,501 sq ft or more
Median (sq ft)
All Buyers
Married
couple
Single
female
Single
male
Unmarried
couple
Other
*
15
27
26
15
8
9
1,900
*
8
23
29
17
10
12
2,010
1%
28
39
20
9
3
1
1,520
1%
27
35
22
7
5
3
1,575
1%
24
31
25
11
6
3
1,670
*
17
28
30
12
4
10
1,850
CHILDREN IN HOME
Children
No
under 18 children
in home in home
*
10
20
27
17
11
14
2,100
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 2, Page 21 of 37
*
17
31
26
13
6
6
1,800
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-21
HOME SIZE AND PRICE PER SQUARE FOOT, BY REGION
(Median)
BUYERS WHO PURCHASED A HOME IN THE
Texas
All homes purchased
Square feet
2,060
Price per square foot
$100
Detached single-family home
Square feet
2,100
Price per square foot
$101
Townhouse or row house
Square feet
1,810
Price per square foot
$99
Duplex/apartment/condo in 2-4 unit building
Square feet
1,090
Price per square foot
$78
Apartment/condo in building with 5 or more units
Square feet
1,640
Price per square foot
$253
U.S.
Northeast
Midwest
South
West
1,900
$120
1,700
$130
1,800
$100
2,000
$110
1,850
$160
1,950
$120
1,800
$130
1,800
$100
2,100
$105
1,900
$160
1,660
$130
1,330
$110
1,670
$120
1,800
$200
1,540
$115
1,600
$120
1,680
$130
1,580
$110
1,650
$110
1,300
$210
1,320
$115
1,500
$115
1,500
$80
1,200
$90
1,400
$251
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 2, Page 22 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-22
NUMBER OF BEDROOMS AND BATHROOMS, BY FIRST-TIME AND REPEAT BUYERS, AND BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
(Percentage Distribution)
Texas
All First-time
Buyers
Buyers
One bedroom
Two bedrooms
Three bedrooms or more
Median number of bedrooms
One full bathroom
Two full bathrooms
Three full bathrooms or more
Median number of full bathrooms
*
7
92
3
7
66
26
2
1%
9
90
3
1
9
90
2
Repeat
Buyers
*
7
93
3
5
62
32
2
BUYERS OF
Previously
New
Owned
Homes
Homes
*
3
97
4
*
62
38
2
*
9
91
3
10
68
22
2
U.S.
All First-time
Buyers
Buyers
One bedroom
Two bedrooms
Three bedrooms or more
Median number of bedrooms
One full bathroom
Two full bathrooms
Three full bathrooms or more
Median number of full bathrooms
*
14
86
3
16
60
23
2
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
*
13
86
3
28
59
13
2
Repeat
Buyers
*
14
86
3
10
61
29
2
BUYERS OF
Previously
New
Owned
Homes
Homes
*
7
93
3
1
59
40
2
*
15
85
3
19
61
21
2
Chapter 2, Page 23 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-23
NUMBER OF BEDROOMS AND BATHROOMS, BY ADULT HOUSEHOLD COMPOSITION AND CHILDREN IN HOUSEHOLD
(Percentage Distribution)
Texas
ADULT COMPOSITION OF HOUSEHOLD
One bedroom
Two bedrooms
Three bedrooms or more
Median number of bedrooms
One full bathroom
Two full bathrooms
Three full bathrooms or more
Median number of full bathrooms
All Buyers
Married
couple
Single
female
*
7
92
3
7
66
26
2
*
3
97
3
3
62
35
2
*
21
79
3
*
21
79
2
Single Unmarried
male
couple
*
12
88
3
15
65
19
2
*
18
82
3
9
73
18
2
Other
*
25
75
4
25
50
25
2
CHILDREN IN HOME
Children
No
under 18 children
in home in home
*
1
99
4
5
59
36
2
*
12
88
3
8
68
24
2
U.S.
ADULT COMPOSITION OF HOUSEHOLD
One bedroom
Two bedrooms
Three bedrooms or more
Median number of bedrooms
One full bathroom
Two full bathrooms
Three full bathrooms or more
Median number of full bathrooms
All Buyers
Married
couple
Single
female
*
14
86
3
16
60
23
2
*
9
21
3
11
60
29
2
1%
26
73
3
27
65
9
2
Single Unmarried
male
couple
*
27
72
3
25
16
12
2
*
16
84
3
29
55
16
2
Other
*
15
85
3
19
58
24
2
CHILDREN IN HOME
Children
No
under 18 children
in home in home
*
4
96
4
13
56
32
2
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 2, Page 24 of 37
*
19
80
3
18
63
18
2
IN HOUSEHOLD
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 2, Page 25 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-24
YEAR HOME BUILT, BY REGION
(Median)
BUYERS WHO PURCHASED A HOME IN THE
2016
2015 through 2011
2010 through 2007
2006 through 2002
2001 through 1987
1986 through 1961
1960 through 1913
1912 and older
Median
Texas
7%
24
8
11
16
25
7
*
2003
U.S. Northeast
14%
5%
4
1
5
2
12
7
20
15
25
25
17
35
3
9
1991
1965
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Midwest
8%
3
4
10
18
25
27
5
1979
South
19%
6
6
14
21
24
9
1
1999
West
14%
4
5
14
22
26
14
1
1993
Chapter 2, Page 26 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-25
IMPORTANCE OF COMMUTING COSTS
(Percentage Distribution)
IMPORTANCE OF COMMUTING COSTS
(Percentage Distribution)
Texas
Texas
Very Important
Somewhat Important
Not Important
36%
35%
29%
Not Important,
29%
Very Important,
36%
Somewhat
Important, 35%
IMPORTANCE OF COMMUTING COSTS
(Percentage Distribution)
U.S.
Very Important
Somewhat Important
Not Important
U.S.
29%
39%
32%
Not Important,
32%
Very Important,
29%
Somewhat
Important, 39%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 2, Page 27 of 37
CHARACTERISTICS OF HOMES PURCHASED
IMPORTANCE OF HOME'S ENVIRONMENTALLY FRIENDLY
FEATURES
Exhibit 2-26
IMPORTANCE OF HOME'S ENVIRONMENTALLY FRIENDLY FEATURES
(Percentage Distribution)
(Percentage Distribution)
Texas
Texas
Heating and cooling costs
Windows/Doors/Siding
(Installation)
Energy efficient appliances
Energy efficient lighting
Landscaping for energy
conservation
Environmentally friendly
community features
Solar panels installed on home
Heating and cooling costs
44%
44%
Very
Important
Somewhat
Important
Not
Important
Windows/Doors/Siding
(Installation)
44%
25
44%
47
11%
28
Energy efficient appliances
28%
44%
Energy efficient lighting
28%
45%
28
28
13
44
45
38
27
27
49
15
34
51
2
13
84
25%
Landscaping for energy
conservation
13%
Environmentally friendly
community features
11%
47%
28%
27%
27%
38%
15%
49%
34%
51%
Solar panels installed on home 2% 13%
84%
0%
20%
40%
Very Important
60%
Somewhat Important
80%
100%
Not Important
IMPORTANCE OF HOME'S ENVIRONMENTALLY FRIENDLY
FEATURES
(Percentage Distribution)
U.S.
U.S.
Heating and cooling costs
Windows/Doors/Siding
(Installation)
Energy efficient appliances
Energy efficient lighting
Landscaping for energy
conservation
Environmentally friendly
community features
Solar panels installed on home
Heating and cooling costs
33%
51%
16%
Very
Important
Somewhat
Important
Not
Important
33%
28
51%
48
16%
24
Energy efficient appliances
21%
46%
33%
21
46
33
Energy efficient lighting
21%
45%
34%
21
9
45
35
34
56
Landscaping for energy
conservation
9%
35%
Environmentally friendly
community features
9%
35%
9
35
56
3
9
88
Windows/Doors/Siding
(Installation)
28%
48%
56%
88%
20%
Very Important
Valid
Missing
Total
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
56%
Solar panels installed on home 3% 9%
0%
24%
40%
60%
Somewhat Important
80%
100%
Not Important
A26 - How important were the following when you were searching for a home to purchase? - Solar panels installed on your home
Frequency Percent
Valid Percent
Cumulative Percent
Very Important 142
1.7
1.8
1.8
Somewhat Important
664
7.9
8.4
10.2
Not Important 7088
83.8
89.8
100
Total
7895
93.4
100
System
559
6.6
8454
100
Chapter 2, Page 28 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-27
ENVIRONMENTALLY FRIENDLY FEATURES CONSIDERED "VERY IMPORTANT", BY REGION
(Percentage Distribution)
BUYERS WHO PURCHASED A HOME IN THE
Heating and cooling costs
Windows/Doors/Siding
(Installation)
Energy efficient appliances
Energy efficient lighting
Landscaping for energy
conservation
Environmentally friendly
community features
Solar panels installed on home
Texas
44%
25
U.S.
Northeast
Midwest
South
West
33%
28
35%
26
31%
32
37%
28
29%
26
28
28
13
21
21
9
19
16
5
19
19
6
25
24
9
18
22
15
15
9
7
7
11
9
2
3
1
1
2
6
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 2, Page 29 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-28
ENVIRONMENTALLY FRIENDLY FEATURES CONSIDERED "VERY IMPORTANT", BY YEAR HOME WAS BUILT
(Percentage Distribution)
Heating and cooling costs
Windows/Doors/Siding
(Installation)
Energy efficient appliances
Energy efficient lighting
Landscaping for energy
conservation
Environmentally friendly
community features
Solar panels installed on home
2014
2010
2006
through through through
2011
2007
2002
2001
through
1987
1986
through
1961
1960
through
1913
1912
and
older
U.S.
2015
49%
36%
49%
31%
29%
30%
29%
30%
25
33%
28
40
28
35
25
22
28
27
27
28
28
13
21
21
9
43
40
15
32
27
8
29
28
14
19
17
9
15
17
10
15
17
7
16
15
7
14
15
9
15
9
19
8
11
9
7
7
7
8
2
3
5
1
4
3
2
2
2
2
Texas
44%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 2, Page 30 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-29
CHARACTERISTICS OF HOME ON WHICH BUYER COMPROMISED, BY LOCATION
(Percent of Respondents)
Texas
All Buyers
Price of home
Size of home
Condition of home
Distance from job
Lot size
Style of home
Distance from friends or family
Quality of the neighborhood
Quality of the schools
Distance from school
Other compromises not listed
None - Made no compromises
BUYERS WHO PURCHASED A HOME IN A
Urban/
Resort/
Suburb/ Small Central
Recreation
Subdivision
town
city Rural
area
22%
16
15
16
16
11
10
4
4
2
9
9
25%
19
15
15
21
11
13
4
4
1
10
29
21%
13
14
21
11
4
11
4
2
*
9
38
14%
9
26
7
7
12
2
7
5
2
2
51
21%
15
9
24
12
21
6
3
3
12
12
44
*
Texas
*
100
*
*
*
*
*
*
*
*
U.S.
All Buyers
Price of home
Condition of home
Size of home
Lot size
Style of home
Distance from job
Distance from friends or family
Quality of the neighborhood
Quality of the schools
Distance from school
None - Made no compromises
Other compromises not listed
BUYERS WHO PURCHASED A HOME IN A
Urban/
Resort/
Suburb/ Small Central
Recreation
Subdivision
town
city Rural
area
21%
19
18
15
15
14
7
5
4
2
32
7
21%
18
17
16
15
13
6
4
4
1
32
8
19%
20
19
16
15
14
9
6
3
2
35
6
23%
21
21
11
19
12
4
10
7
1
30
6
19%
21
17
13
15
19
9
3
3
3
31
9
21%
21
74
10
11
7
6
8
*
2
39
3
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 2, Page 31 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-30
CHARACTERISTICS OF HOME ON WHICH BUYER COMPROMISED, FIRST-TIME AND
REPEAT BUYERS, AND BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
(Percentage of Respondents)
Texas
All First-time
Buyers
Buyers
Price of home
Size of home
Condition of home
Distance from job
Lot size
Style of home
Distance from friends or family
Quality of the neighborhood
Quality of the schools
Distance from school
Other compromises not listed
None - Made no compromises
22%
16
15
16
16
11
10
4
4
2
9
9
30%
22
19
18
16
13
15
7
4
1
7
27
Repeat
Buyers
18%
14
14
15
16
10
9
3
3
3
10
40
BUYERS OF
Previously
New
Owned
Homes
Homes
24%
16
3
31
22
10
12
1
3
1
6
38
21%
16
20
12
14
11
10
5
4
2
10
35
U.S.
All First-time
Buyers
Buyers
Price of home
Condition of home
Size of home
Lot size
Style of home
Distance from job
Distance from friends or family
Quality of the neighborhood
Quality of the schools
Distance from school
None - Made no compromises
Other compromises not listed
21%
19
18
15
15
14
7
5
4
2
32
7
22%
20
24
17
18
19
8
6
7
2
25
7
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Repeat
Buyers
20%
19
15
14
14
11
7
4
2
1
36
8
BUYERS OF
Previously
New
Owned
Homes
Homes
21%
4
14
20
12
16
8
3
4
2
40
7
21%
22
19
14
16
13
7
5
4
1
31
7
Chapter 2, Page 32 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-31
CHARACTERISTICS OF HOME ON WHICH BUYER COMPROMISED, BY ADULT COMPOSITION OF
HOUSEHOLD
(Percentage of Respondents)
Texas
ADULT COMPOSITION OF HOUSEHOLD
Price of home
Size of home
Condition of home
Distance from job
Lot size
Style of home
Distance from friends or family
Quality of the neighborhood
Quality of the schools
Distance from school
Other compromises not listed
None - Made no compromises
All
Buyers
Married
couple
Single
female
Single
male
Unmarried
couple
Other
22%
16
15
16
16
11
10
4
4
2
9
9
20%
15
13
16
16
8
8
3
3
3
8
38
27%
19
8
21
6
13
13
6
6
4
10
33
19%
15
23
4
15
23
4
4
4
*
4
46
36%
9
27
18
45
*
18
*
9
*
27
9
25%
25
75
25
*
*
*
*
25
*
*
25
CHILDREN IN HOME
Children
No
under 18 children
in home in home
22%
16
14
22
14
10
11
3
2
7
7
28
22%
16
14
13
16
11
8
5
5
*
9
40
* Less than 1 percent
U.S.
ADULT COMPOSITION OF HOUSEHOLD
Price of home
Condition of home
Size of home
Lot size
Style of home
Distance from job
Distance from friends or family
Quality of the neighborhood
Quality of the schools
Distance from school
None - Made no compromises
Other compromises not listed
All
Buyers
Married
couple
Single
female
Single
male
Unmarried
couple
Other
21%
19
18
15
15
14
7
5
4
2
32
7
22%
20
17
17
16
14
7
4
3
2
32
7
23%
19
19
7
16
11
8
6
3
1
32
9
20%
21
20
14
16
14
9
5
4
3
38
5
22%
17
23
17
14
13
6
6
10
1
28
10
16%
27
17
7
20
19
7
6
9
2
25
3
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
CHILDREN IN HOME
Children
No
under 18 children
in home in home
23%
22
21
19
18
16
7
5
5
3
26
6
Chapter 2, Page 33 of 37
21%
18
16
13
14
12
7
4
3
*
36
8
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-32
EXPECTED LENGTH OF TENURE IN HOME PURCHASED, FIRST-TIME AND REPEAT
BUYERS, AND BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
(Percentage Distribution)
Texas
BUYERS OF
1 year or less
2 to 3 years
4 to 5 years
6 to 7 years
8 to 10 years
11 to 15 years
16 or more years
Don't Know
Median
All Buyers
First-time
Buyers
Repeat
Buyers
2%
3
7
3
15
8
25
38
10
2%
2
9
3
19
4
24
36
10
2%
4
8
1
17
8
21
39
10
New
Previously
Homes Owned Homes
1%
1
7
3
16
10
25
36
10
1%
1
7
3
16
10
25
36
10
U.S.
BUYERS OF
1 year or less
2 to 3 years
4 to 5 years
6 to 7 years
8 to 10 years
11 to 15 years
16 or more years
Don't Know
Median
All Buyers
First-time
Buyers
Repeat
Buyers
1%
3
9
3
15
6
26
38
12
1%
3
13
4
17
4
23
35
10
1%
3
7
2
14
7
27
39
15
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
New
Previously
Homes Owned Homes
1%
3
9
2
16
6
28
36
15
1%
3
9
3
15
6
25
38
12
Chapter 2, Page 34 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-33
EXPECTED LENGTH OF TENURE IN HOME PURCHASED, BY AGE
(Percentage Distribution)
Texas
1 year or less
2 to 3 years
4 to 5 years
6 to 7 years
8 to 10 years
11 to 15 years
16 or more years
Don't Know
Median
All Buyers
2%
3
7
3
15
8
25
38
10
18 to 24
4%
6
22
5
21
2
9
32
7
AGE OF HOME BUYER
25 to 44
45 to 64
2%
1%
2
4
7
9
4
3
15
15
7
12
25
24
38
33
10
15
65 or older
3%
3
5
*
9
9
26
45
15
18 to 24
1%
4
20
5
28
*
9
34
10
AGE OF HOME BUYER
25 to 44
45 to 64
1%
1%
3
2
12
7
4
1
17
14
6
6
26
31
31
38
10
15
65 or older
2%
3
5
1
10
7
19
54
15
* Less than 1 percent
U.S.
All Buyers
1 year or less
2 to 3 years
4 to 5 years
6 to 7 years
8 to 10 years
11 to 15 years
16 or more years
Don't Know
Median
1%
3
9
3
15
6
26
38
12
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 2, Page 35 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-34
FACTORS THAT COULD CAUSE BUYER TO MOVE, BY AGE
(Percent of Respondents)
Texas
All Buyers
18 to 24
25 to 44
20%
*
20
*
*
20
30%
12
21
14
5
1
8
2
*
7
All Buyers
18 to 24
25 to 44
45 to 64
65 or older
26%
18
13
9
8
8
7
1
1
9
28%
6
15
29
2
2
6
*
2
9
28%
12
20
15
5
1
10
1
1
8
30%
25
10
2
12
8
4
1
1
9
15%
31
1
1
10
31
3
*
*
9
Move with life changes (addition to family,
marriage, children move out, retirement, etc.)
Never moving-forever home
Move with job or career change
May outgrow home
Downsize/smaller house
Household member's health
Want nicer home/added features
May desire better area/neighborhood
Will flip home
Other
37%
19 *
20
5
**
*
*
10
4
5
20
20
45 to 64
65 or older
31%
25
14 *
2*
10
5
2
3
2
6
16%
18
16
21
8
*
*
21
U.S.
Move with life changes (addition to family,
marriage, children move out, retirement, etc.)
Never moving-forever home
Move with job or career change
May outgrow home
Downsize/smaller house
Household member's health
Want nicer home/added features
May desire better area/neighborhood
Will flip home
Other
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 2, Page 36 of 37
CHARACTERISTICS OF HOMES PURCHASED
Exhibit 2-35
FACTORS THAT COULD CAUSE BUYER TO MOVE, BY ADULT COMPOSITION OF HOUSEHOLD
(Percent of Respondents)
Texas
ADULT COMPOSITION OF HOUSEHOLD
All Buyers
Married
couple
Single
female
Single
male
Unmarried
couple
Other
37%
19
20
5
*
*
*
10
4
5
26%
17%
17%
8%
10
6
4
2
1
8
35%
17%
6%
4%
6
10
8
2
*
13
23%
27%
19%
15%
8
*
*
*
*
8
36%
18%
18%
*
*
9
9
*
*
9
50%
*
*
*
*
*
25
*
*
25
All Buyers
Married
couple
Single
female
Single
male
Unmarried
couple
Other
26%
18
13
9
8
8
7
1
1
9
23%
20
15
9
10
9
6
1
1
8
37%
20
8
6
4
10
5
1
*
10
34%
14
12
8
8
6
7
1
3
7
24%
15
15
16
6
3
10
1
1
10
39%
17
5
6
3
9
6
*
1
13
Move with life changes (addition to family,
marriage, children move out, retirement, etc.)
Never moving-forever home
Move with job or career change
May outgrow home
Downsize/smaller house
Household member's health
Want nicer home/added features
May desire better area/neighborhood
Will flip home
Other
U.S.
ADULT COMPOSITION OF HOUSEHOLD
Move with life changes (addition to family,
marriage, children move out, retirement, etc.)
Never moving-forever home
Move with job or career change
May outgrow home
Downsize/smaller house
Househole member's health
Want nicer home/added features
May desire better area/neighborhood
Will flip home
Other
CHILDREN IN HOME
Children
under 18 in No children
home
in home
26%
20%
13%
6%
9
9
4
1
1
12
CHILDREN IN HOME
Children
under 18 in No children
home
in home
25%
15
18
12
9
1
9
1
1
9
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
26%
20%
13%
6%
9
9
4
1
1
12
Chapter 2, Page 37 of 37
27%
22
10
7
7
12
5
1
1
8
THE HOME SEARCH PROCESS
Exhibit 3-1
Exhibit 3-14
FIRST STEP TAKEN DURING THE HOME BUYING PROCESS, FIRST-TIME AND REPEAT
BUYERS
FIRST STEP TAKEN DURING THE HOME BUYING PROCESS, BY AGE
INFORMATION SOURCES USED IN HOME SEARCH, BY FIRST-TIME AND REPEAT BUYERS,
AND BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
INFORMATION SOURCES USED IN HOME SEARCH, BY AGE
FREQUENCY OF USE OF DIFFERENT INFORMATION SOURCES
USEFULNESS OF INFORMATION SOURCES
LENGTH OF SEARCH, BY REGION
LENGTH OF SEARCH FOR BUYERS WHO USED AN AGENT, BY FIRST-TIME AND REPEAT
BUYERS
WHERE BUYER FOUND THE HOME THEY PURCHASED, 2001-2014
BUYER INTEREST IN PURCHASING A HOME IN FORECLOSURE, BY FIRST-TIME AND REPEAT
BUYERS, AND BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
MOST DIFFICULT STEPS OF HOME BUYING PROCESS BY FIRST-TIME AND REPEAT BUYERS
AND BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
BUYER USE OF INTERNET IN HOME SEARCH PROCESS, 1995-2016
ACTIONS TAKEN AS A RESULT OF INTERNET HOME SEARCH, FIRST-TIME AND REPEAT
BUYERS
CHARACTERISTICS OF HOME SEARCHERS AND SEARCH ACTIVITY, BY USE OF INTERNET
Exhibit 3-15
Exhibit 3-16
Exhibit 3-17
Exhibit 3-18
Exhibit 3-20
Exhibit 3-21
INFORMATION SOURCES USED IN HOME SEARCH, BY USE OF INTERNET
WHERE BUYERS FOUND THE HOME THEY PURCHASED, BY USE OF INTERNET
METHOD OF HOME PURCHASE, BY USE OF INTERNET
VALUE OF WEB SITE FEATURES
MOBILE SEARCH BY FIRST-TIME AND REPEAT BUYERS
SATISFACTION IN BUYING PROCESS
Exhibit 3-2
Exhibit 3-3
Exhibit 3-4
Exhibit 3-5
Exhibit 3-6
Exhibit 3-7
Exhibit 3-8
Exhibit 3-9
Exhibit 3-10
Exhibit 3-11
Exhibit 3-12
Exhibit 3-13
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
THE HOME SEARCH PROCESS
Exhibit 3-1
FIRST STEP TAKEN DURING THE HOME BUYING PROCESS, FIRST-TIME AND REPEAT BUYERS
(Percentage Distribution)
Texas
Looked online for properties for sale
Contacted a real estate agent
Looked online for information about the home buying process
Drove-by homes/neighborhoods
Talked with a friend or relative about home buying process
Contacted a bank or mortgage lender
Visited open houses
Looked in newspapers, magazines, or home buying guides
Contacted builder/visited builder models
Contacted a home seller directly
Attended a home buying seminar
Looked up information about different neightborhoods or areas
(schools, local lifestyle/nightlife, parks, public transpo
Read books or guides about the home buying process
Other
All
Buyers
First-time
Buyers
Repeat
Buyers
19%
29
19
10
5
*
10
*
10
*
*
*
29%
14
22
4
14
2
4
2
1
1
1
2
46%
22
7
9
2
4
2
*
3
1
*
1
*
*
1
*
*
*
All
Buyers
First-time
Buyers
Repeat
Buyers
U.S.
Looked online for properties for sale
Contacted a real estate agent
Looked online for information about the home buying process
Contacted a bank or mortgage lender
Drove-by homes/neighborhoods
Talked with a friend or relative about home buying process
Visited open houses
Looked up information about different neightborhoods or areas
(schools, local lifestyle/nightlife, parks, public transpo
Contacted builder/visited builder models
Attended a home buying seminar
Contacted a home seller directly
Looked in newspapers, magazines, or home buying guides
Read books or guides about the home buying process
Other
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
44%
17
13
7
6
6
3
32%
12
21
9
5
13
2
49%
18
8
5
7
3
4
1
1
1
1
1
*
1
1
1
1
1
1
1
1
1
3
*
1
1
*
1
THE HOME SEARCH PROCESS
Exhibit 3-2
FIRST STEP TAKEN DURING THE HOME BUYING PROCESS, BY AGE
(Percentage Distribution)
Texas
AGE OF HOME BUYER
Looked online for properties for sale
Contacted a real estate agent
Looked online for information about the home buying process
Drove-by homes/neighborhoods
Talked with a friend or relative about home buying process
Contacted a bank or mortgage lender
Visited open houses
Looked in newspapers, magazines, or home buying guides
Contacted builder/visited builder models
Contacted a home seller directly
Attended a home buying seminar
Looked up information about different neightborhoods or areas
(schools, local lifestyle/nightlife, parks, public transpo
All Buyers
19%
29
19
10
5
*
10
*
10
*
*
*
18-24
*
*
*
*
*
*
*
*
*
*
*
*
25-44
40%
17
10
4
8
6
3
2
3
1
2
3
45-64
46%
18
13
8
3
2
3
1
3
2
*
1
*
*
*
*
1
*
1
Read books or guides about the home buying process
Other
65 or
older
5%
34
34
8
8
5
3
3
U.S.
AGE OF HOME BUYER
Looked online for properties for sale
Contacted a real estate agent
Looked online for information about the home buying process
Contacted a bank or mortgage lender
Drove-by homes/neighborhoods
Talked with a friend or relative about home buying process
Visited open houses
Looked up information about different neightborhoods or areas
(schools, local lifestyle/nightlife, parks, public transpo
Contacted builder/visited builder models
Attended a home buying seminar
Contacted a home seller directly
Looked in newspapers, magazines, or home buying guides
Read books or guides about the home buying process
Other
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
All Buyers 18 to 24 25 to 44 45 to 64
44%
32%
42%
51%
17
11
13
15
65 or
older
33%
26
13
7
6
6
3
21
14
5
14
1
16
8
4
9
3
8
6
8
3
4
8
4
9
5
6
1
1
1
1
*
*
2
*
1
1
1
1
1
3
*
1
1
4
*
3
1
*
1
*
*
*
1
1
1
*
*
1
2
*
1
THE HOME SEARCH PROCESS
Exhibit 3-3
INFORMATION SOURCES USED IN HOME SEARCH, BY FIRST-TIME AND REPEAT BUYERS, AND BUYERS OF
NEW AND PREVIOUSLY OWNED HOMES
(Percent of Respondents)
Texas
Online website
Real estate agent
Mobile or tablet search device
Open house
Yard sign
Online video site
Print newspaper advertisement
Home builder
Home book or magazine
Billboard
Television
Relocation company
BUYERS OF
New
Previously
Homes Owned Homes
All Buyers
First-time Buyers
Repeat
Buyers
95%
91%
93%
36%
92%
93
72
42
54
38
13
25
10
7
6
5
75
71
40
57
34
14
25
9
9
6
3
88
69
46
55
41
17
36
11
6
6
6
69
36
48
48
34
20
76
14
19
11
8
90
70
43
59
40
14
13
9
2
4
4
All Buyers
First-time Buyers
Repeat
Buyers
95%
92
95%
88
93%
88
90%
76
94%
89
72
50
49
36
16
78
48
46
32
15
66
50
50
38
18
63
51
29
34
16
71
49
50
36
17
14
12
4
3
3
13
11
6
4
3
20
12
4
3
3
65
16
16
7
5
10
11
4
3
3
U.S.
Online website
Real estate agent
Mobile or tablet search device
Open house
Yard sign
Online video site
Print newspaper advertisement
Home builder
Home book or magazine
Billboard
Television
Relocation company
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
BUYERS OF
New
Previously
Homes Owned Homes
THE HOME SEARCH PROCESS
Exhibit 3-4
INFORMATION SOURCES USED IN HOME SEARCH, BY AGE
(Percent of Respondents)
Texas
AGE OF HOME BUYER
Online website
Real estate agent
Mobile or tablet search device
Open house
Yard sign
Online video site
Print newspaper advertisement
Home builder
Home book or magazine
Billboard
Television
Relocation company
All Buyers
95%
93
18 to 24
100%
80
25 to 44
98%
87
45 to 64
90%
85
65 or older
84%
95
72
25
10
100
40
100
83
47
55
60
40
54
56
37
35
7
40
33
44
53
6
5
10
7
6
5
*
40
20
*
20
*
14
28
10
11
5
4
14
30
10
11
7
8
16
26
13
6
9
3
* Less than 1 percent
U.S.
AGE OF HOME BUYER
Online website
Real estate agent
Mobile or tablet search device
Open house
Yard sign
Online video site
Print newspaper advertisement
Home builder
Home book or magazine
Billboard
Television
Relocation company
All Buyers
95%
92
18 to 24
98%
92
25 to 44
98%
88
45 to 64
93%
86
65 or older
82%
89
72
50
49
37
90
37
48
32
82
53
49
30
64
48
51
43
41
43
46
43
16
14
14
11
14
16
18
19
26
21
12
4
3
3
10
3
7
2
10
5
3
4
15
5
3
3
15
2
3
1
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
THE HOME SEARCH PROCESS
Exhibit 3-5
FREQUENCY OF USE OF DIFFERENT INFORMATION SOURCES
(Percentage Distribution)
Texas
Online website
Real estate agent
Mobile or tablet search device
Online video site
Yard sign
Open house
Home builder
Print newspaper advertisement
Home book or magazine
Billboard
Television
Relocation company
FREQUENCY OF USE OF DIFFERENT INFORMATION SOURCES
(Percentage Distribution)
Frequently
85%
73
52
23
16
8
7
3
1
1
2
2
Occasionally
10%
20
20
15
38
34
18
10
9
6
4
3
Rarely or
not at all
5%
6
28
62
46
58
75
87
90
93
94
95
* Less than 1 percent
Texas
Online website
85
Real estate agent
Mobile or tablet search device
23
Yard sign
20
15
16
Open house
Home builder
7
58
18
75
10
Home book or magazine 1
28
46
34
3
5
6
62
38
8
87
9
90
Billboard 1 6
93
Television 2 4
94
Relocation company 2 3
95
0%
20%
40%
Frequently
60%
Occasionally
80%
100%
Rarely or not at all
FREQUENCY OF USE OF DIFFERENT INFORMATION SOURCES
U.S.
Online website
Real estate agent
Mobile or tablet search device
Online video site
Yard sign
Open house
Home builder
Print newspaper advertisement
Home book or magazine
Billboard
Television
Relocation company
20
52
Online video site
Print newspaper advertisement
10
73
(Percentage Distribution)
Frequently
86%
71
54
19
15
13
3
3
2
1
1
1
Occasionally
9%
21
18
18
34
37
11
13
10
3
2
2
Rarely or
not at all
5%
8
28
64
51
50
86
84
89
96
97
97
U.S.
Online website
86
Real estate agent
Mobile or tablet search device
21
54
Online video site
19
Yard sign
3
Print newspaper advertisement
3
28
51
37
50
11
86
13
84
10
89
Billboard 1 3
96
Television 12
97
Relocation company 12
0%
5
8
64
34
13
Home builder
18
18
15
Open house
Home book or magazine 2
97
20%
Frequently
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
9
71
40%
Occasionally
60%
80%
Rarely or not at all
100%
THE HOME SEARCH PROCESS
Exhibit 3-6
USEFULNESS OF INFORMATION SOURCES
(Percentage Distribution Among Buyers that Used Each Source)
USEFULNESS OF INFORMATION SOURCES
(Percentage Distribution Among Buyers that Used Each Source)
Texas
Texas
Very Somewhat
Useful
Useful
Online website
Real estate agent
Mobile or tablet search device
Online video site
Home builder
Open house
Yard sign
Relocation company
Billboard
Television
Print newspaper advertisement
Home book or magazine
Not
Useful
Online website
82
Real estate agent
82%
80
16%
18
2%
2
Mobile or tablet search device
75
63
51
34
36
38
18
38
22
35
42
57
56
38
69
44
2
2
7
9
8
23
14
19
Home builder
22
18
66
73
13
9
16
80
75
Online video site
63
35
Billboard
14
44
22
19
66
18
0%
23
69
38
Home book or magazine
8
38
18
Print newspaper advertisement
9
56
38
Television
2
7
57
36
Relocation company
2
42
34
Yard sign
2
22
51
Open house
2
18
13
73
20%
40%
Very Useful
9
60%
80%
Somewhat Useful
100%
Not Useful
USEFULNESS OF INFORMATION SOURCES
(Percentage Distribution Among Buyers that Used Each Source )
U.S.
U.S.
Very Somewhat
Useful
Useful
Online website
Real estate agent
Mobile or tablet search device
Online video site
Home builder
Open house
Yard sign
Relocation company
Billboard
Television
Print newspaper advertisement
Home book or magazine
Not
Useful
Online website
86
Real estate agent
86%
79
13%
19
1%
3
Mobile or tablet search device
77
21
2
Online video site
53
45
40
33
33
24
24
17
41
45
52
59
46
60
56
66
5
10
8
8
21
16
19
17
Home builder
16
68
16
77
21
33
Relocation company
33
Billboard
24
Television
24
52
8
8
46
21
60
16
56
19
66
16
0%
10
59
17
Home book or magazine
17
68
20%
Very Useful
2
5
45
40
Yard sign
3
41
45
Open house
1
19
53
Print newspaper advertisement
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
13
79
40%
16
60%
Somewhat Useful
80%
Not Useful
100%
THE HOME SEARCH PROCESS
Exhibit 3-7
LENGTH OF SEARCH, BY REGION
(Median)
BUYERS WHO PURCHASED A HOME IN THE
Number of Weeks Searched
2001
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Number of homes viewed
8
U.S.
7
8
8
8
8
8
10
12
12
12
12
12
10
10
10
Northeast
7
10
12
10
12
12
12
12
14
12
12
12
12
12
12
Midwest
7
8
8
8
8
8
10
10
10
10
12
10
10
10
10
South
7
8
8
8
8
8
8
10
10
10
10
10
10
10
10
West
7
6
8
6
8
8
10
12
12
12
12
12
10
10
9
10
10
10
10
10
10
Texas
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
THE HOME SEARCH PROCESS
Exhibit 3-8
LENGTH OF SEARCH FOR BUYERS WHO USED AN AGENT, BY FIRST-TIME AND REPEAT BUYERS
(Median Weeks)
Texas
All
Buyers
Total number of weeks searched
Number of weeks searched before
contacting agent
Buyers who First-time
Used an Agent
Buyers
8
2
8
2
Repeat
Buyers
12
3
8
2
LENGTH OF SEARCH FOR BUYERS WHO USED AN AGENT, BY
AGE AND BY FIRST-TIME AND REPEAT BUYERS
(Median)
Texas
14
12
12
10
8
8
8
8
6
4
3
2
2
2
0
All Buyers
Buyers who Used an First-time Buyers
Agent
Total number of weeks searched
Repeat Buyers
Number of weeks searched before contacting agent
U.S.
All
Buyers
Total number of weeks searched
Number of weeks searched before
contacting agent
Buyers who First-time
Used an Agent
Buyers
10
N/A
10
3
Repeat
Buyers
12
3
10
2
LENGTH OF SEARCH FOR BUYERS WHO USED AN AGENT, BY
AGE AND BY FIRST-TIME AND REPEAT BUYERS
(Median)
U.S.
14
12
12
10
10
10
10
8
6
3
4
3
2
2
0
All Buyers
Buyers who Used an
Agent
Total number of weeks searched
First-time Buyers
Number of weeks searched before contacting agent
NA=Not applicable
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Repeat Buyers
THE HOME SEARCH PROCESS
Exhibit 3-9
WHERE BUYER FOUND THE HOME THEY PURCHASED, 2001-2014
(Percentage Distribution)
Texas
Real estate agent
Internet
Yard sign/open house sign
Friend, relative or neighbor
Home builder or their agent
Print newspaper advertisement
Directly from sellers/Knew the sellers
Home book or magazine
Other
2016
25%
25
15
10
25
*
*
*
*
U.S.
Internet
Real estate agent
Yard sign/open house sign
Friend, relative or neighbor
Home builder or their agent
Directly from sellers/Knew the sellers
Print newspaper advertisement
Home book or magazine
Other
* Less than 1 percent
2001
8%
48
15
8
3
4
7
2
5
2003
11%
41
16
7
7
4
7
1
6
100%
90%
80%
5
6
2
1
7
7
4
4
3
7
8
7
70%
2004
15%
38
16
7
7
5
5
2
4
2005
24%
36
15
7
7
3
5
1
--
4
2
5
2006
24%
36
15
8
8
3
5
1
-1
5
0
1
5
3
3
5
7
8
7
7
8
60%
16
2008
32%
34
15
7
7
2
3
1
--
2009
36%
36
12
6
5
2
2
*
-0
1
3
3
8
2010
37%
38
11
6
4
2
2
*
--
2011
40%
35
11
6
5
2
2
*
-0
1
3
2
7
2012
42%
34
10
6
5
2
1
*
-0
2
2
5
6
2013
43%
33
9
6
5
2
1
*
1
0*
2
2
4
2014
43%
33
9
6
5
3
1
*
--
2015
44%
33
9
6
6
2
1
*
-2*
2
5
2016
51%
34
8
4
2
1
1
*
-0
1*
2
5
1
1*
2
0
1*
3
5
5
6
6
2
6
6
6
6
6
11
11
10
9
9
9
33
33
33
43%
43%
44%
2012 Home builder
2013
or their agent 2014
2015
7
8
12
15
7
14
15
15
2007
29%
34
14
8
8
3
3
1
--
15
16
38
35
34
36
50%
34
34
36
40%
30%
48
36
38
41
20%
29%
24%
10%
8%
11%
32%
36%
37%
40%
42%
24%
15%
0%
2001
Internet 2003
2004
Directly from sellers/Knew the sellers
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
2005
Real estate agent 2006
Print newspaper advertisement
2007
2008 house sign 2009
Yard sign/open
2010 relative or neighbor
2011
Friend,
Home book or magazine
Other
THE HOME SEARCH PROCESS
Exhibit 3-10
BUYER INTEREST IN PURCHASING A HOME IN FORECLOSURE, BY FIRST-TIME AND REPEAT BUYERS, AND BUYERS
OF NEW AND PREVIOUSLY OWNED HOMES
(Percent of Respondents)
Texas
Did not consider purchasing a home in foreclosure
Considered purchasing a home in foreclosure, but did not:
Could not find the right home
The process was too difficult or complex
The home was in poor condition
The home price was too high
The neighborhood was undesirable
Financing options were not attractive
First-time Repeat
Buyers Buyers
All Buyers
86%
66%
79%
10
5
5
*
5
*
17
13
7
2
3
6
16
5
4
2
2
*
U.S.
Did not consider purchasing a home in foreclosure
Considered purchasing a home in foreclosure, but did not:
Could not find the right home
The process was too difficult or complex
The home was in poor condition
The home price was too high
The neighborhood was undesirable
Financing options were not attractive
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
First-time Repeat
Buyers Buyers
All Buyers
61%
55%
66%
23
10
10
3
3
3
25
13
15
4
5
5
20
8
7
3
2
2
BUYERS OF
New
Previously
Homes
Owned Homes
78%
74%
10
7
3
3
*
3
18
8
5
2
3
1
BUYERS OF
New
Previously
Homes
Owned Homes
79%
59%
12
5
6
2
2
2
24
11
10
4
3
3
THE HOME SEARCH PROCESS
Exhibit 3-11
MOST DIFFICULT STEPS OF HOME BUYING PROCESS BY FIRST-TIME AND REPEAT BUYERS AND BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
(Percentage Distribution)
Texas
Finding the right property
Paperwork
Understanding the process and steps
No difficult steps
Getting a mortgage
Saving for the down payment
Appraisal of the property
Other
All Buyers
First-time Buyers
Repeat Buyers
48%
23
15
20
9
11
4
7
52%
29
37
9
12
27
4
6
46%
20
5
24
8
5
4
7
BUYERS OF
New
Previously
Homes Owned Homes
36%
22
10
28
12
10
3
9
51%
23
16
18
8
11
4
6
U.S.
Finding the right property
Paperwork
Understanding the process and steps
Saving for the down payment
Getting a mortgage
Appraisal of the property
No difficult steps
Other
All Buyers
First-time Buyers
Repeat Buyers
52%
24
17
13
11
5
16
6
56%
28
33
26
13
6
9
4
51%
22
8
6
10
4
20
6
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
BUYERS OF
New
Previously
Homes Owned Homes
41%
27
16
10
13
3
23
5
54%
24
17
14
11
5
15
7
THE HOME SEARCH PROCESS
Exhibit 3-12
BUYER USE OF INTERNET IN HOME SEARCH PROCESS, 1995-2016
Buyer Use of Internet in Home Search Process 1995-2016
1995
1997
1999
2001
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2%
18%
37%
41%
65%
74%
77%
80%
84%
87%
90%
89%
88%
90%
92%
92%
92%
95%
1
0.9
0.8
0.74
0.7
0.77
0.8
0.84
0.87
0.9
0.89
0.88
0.9
0.92
0.92
0.92
0.65
0.6
0.5
0.4
0.37
0.41
0.3
0.2
0.18
0.1
0
0.02
1995
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
1997
1999
2001
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
THE HOME SEARCH PROCESS
Exhibit 3-13
ACTIONS TAKEN AS A RESULT OF INTERNET HOME SEARCH, FIRST-TIME AND REPEAT BUYERS
(Percent of Respondents Among Buyers Who Used the Internet)
Texas
Walked through home viewed online
Saw exterior of homes/neighborhood, but did not
walk through home
Found the agent used to search for or buy home
Requested more information
Pre-qualified for a mortgage online
Looked for more information on how to get a
mortgage and general home buyers tips
Applied for a mortgage online
Found a mortgage lender online
Contacted builder/developer
All
Buyers
61%
First-time
Buyers
56%
Repeat
Buyers
63%
40
30
28
28
39
31
33
33
40
30
26
26
16
20
12
14
29
24
19
11
11
19
8
16
All
Buyers
67%
First-time
Buyers
65%
Repeat
Buyers
67%
44
33
27
19
45
35
31
24
44
31
25
17
16
14
9
8
30
17
14
5
8
12
7
10
U.S.
Walked through home viewed online
Saw exterior of homes/neighborhood, but did not
walk through home
Found the agent used to search for or buy home
Requested more information
Pre-qualified for a mortgage online
Looked for more information on how to get a
mortgage and general home buyers tips
Applied for a mortgage online
Found a mortgage lender online
Contacted builder/developer
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
THE HOME SEARCH PROCESS
Exhibit 3-14
CHARACTERISTICS OF HOME SEARCHERS AND SEARCH ACTIVITY, BY
USE OF INTERNET
(Percentage Distribution)
Texas
Household Compostion
Married couple
Single female
Single male
Unmarried couple
Other
Median age (years)
Median income (2015)
Length of Search (Median weeks)
Number of Homes Visited (median)
Used Internet to Did Not Use Internet
Search
to Search
66%
60%
18
25
9
15
4
*
2
*
45
59
$94,200
$100,000
8
3
10
5
* Less than 1 percent
U.S.
Household Compostion
Married couple
Single female
Single male
Unmarried couple
Other
Median age (years)
Median income (2015)
Length of Search (Median weeks)
All buyers
First-time buyers
Repeat buyers
Buyers using an agent
Before contacting agent
Number of Homes Visited (median)
Used Internet to Did Not Use Internet
Search
to Search
67%
58%
16
23
7
11
8
5
2
3
43
63
$89,900
$73,900
10
12
10
10
3
10
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
4
4
4
6
*
4
THE HOME SEARCH PROCESS
Exhibit 3-15
INFORMATION SOURCES USED IN HOME SEARCH, BY USE OF INTERNET
(Percent of Respondents)
Texas
Online website
Real estate agent
Yard sign
Mobile or tablet website or
application
Open house
Mobile or tablet search engine
Online video site
Print newspaper advertisement
Home builder
Home book or magazine
Billboard
Television
Relocation company
Used
Internet to
Search
Did Not Use
Internet to
Search
94%
90
55
14%
69
48
62
44
59
30
15
28
10
10
7
5
4
25
7
*
11
28
7
7
7
*
Used
Internet to
Search
Did Not Use
Internet to
Search
94%
89
74
50
50
38
17
17
12
5
3
3
N/A
69
N/A
38
27
N/A
18
21
8
5
2
4
* Less than 1 percent
U.S.
Online website
Real estate agent
Mobile or tablet search device
Yard sign
Open house
Online video site
Print newspaper advertisement
Home builder
Home book or magazine
Billboard
Television
Relocation company
N/A Not Applicable
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
`
THE HOME SEARCH PROCESS
Exhibit 3-16
WHERE BUYERS FOUND THE HOME THEY PURCHASED, BY USE OF INTERNET
(Percentage Distribution)
Texas
Used Internet to
Search
Did Not Use
Internet to Search
45%
33
7
8
4
1
1
*
*
32
18
14
32
*
5
*
Used Internet to
Search
Did Not Use
Internet to Search
50%
30%
8%
5%
5%
2%
*
*
N/A
39%
16%
9%
18%
8%
3%
1%
Internet
Real estate agent
Yard sign/open house sign
Home builder or their agent
Friend, relative or neighbor
Print newspaper advertisement
Directly from sellers/Knew the sellers
Home book or magazine
* Less than 1 percent
U.S.
Internet
Real estate agent
Yard sign/open house sign
Home builder or their agent
Friend, relative or neighbor
Directly from sellers/Knew the sellers
Print newspaper advertisement
Home book or magazine
* Less than 1 percent
N/A Not Applicable
60%
50%
50%
39%
40%
30%
30%
20%
18%
16%
9%
8%
10%
5%
8%
5%
2%
0%
3%
%
% 1%
0%
Internet
Real estate
agent
Yard
Home builder
Friend,
Directly from
Print
Home book or
sign/open or their agent relative or sellers/Knew newspaper
magazine
house
sign to Search
sellers advertisement
Used Internet
Didneighbor
Not Use Internetthe
to Search
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
THE HOME SEARCH PROCESS
Exhibit 3-17
METHOD OF HOME PURCHASE, BY USE OF INTERNET
(Percentage Distribution)
Texas
Used Internet
to Search
Did Not Use Internet
to Search
89%
8
1
1
*
58%
17
13
13
*
Used Internet
to Search
Did Not Use Internet
to Search
90%
6%
2%
2%
1%
70%
11%
7%
11%
1%
Through a real estate agent/broker
Directly from builder or builder's agent
Directly from previous owner whom buyer didn't know
Directly from previous owner whom buyer knew
Other
* Less than 1 percent
U.S.
Through a real estate agent/broker
Directly from builder or builder's agent
Directly from previous owner whom buyer didn't know
Directly from previous owner whom buyer knew
Other
100%
90%
90%
80%
70%
70%
60%
50%
40%
30%
20%
11%
10%
6%
11%
7%
2%
2%
1%
1%
0%
Through a real estate Directly from builder or Directly from previous Directly from previous
agent/broker
builder's agent
owner whom buyer
owner whom buyer
didn't
Used Internet
to know
Search
Did Notknew
Use Internet to Search
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Other
THE HOME SEARCH PROCESS
Exhibit 3-18
VALUE OF WEB SITE FEATURES
(Percentage Distribution Among Buyers Who Used the Internet)
Texas
Photos
Detailed information about properties for sale
Virtual tours
Interactive maps
Real estate agent contact information
Neighborhood information
Detailed information about recently sold properties
Pending sales/contract status
Information about upcoming open houses
Videos
Real estate news or articles
Very
Useful
93%
91
52
36
49
42
34
36
22
23
7
Somewhat
Useful
7%
9
29
33
33
41
41
34
32
32
29
Not
Useful
*
*
6
12
10
6
18
13
22
19
25
Did not
use/Not
Available
*
*
13
19
8
11
8
17
24
27
40
Very
Useful
8
26
26
39
41
42
44
47
50
55
85
89%
Somewhat
Useful
27
34
35
36
34
33
41
40
32
29
14
10%
Not
Useful
27
16
18
13
11
14
7
6
8
7
*
1%
Did not
use/Not
Available
38
24
21
13
14
12
8
7
11
10
1
1%
* Less than 1 percent
U.S.
Real estate news or articles
Videos
Information about upcoming open houses
Pending sales/contract status
Interactive maps
Real estate agent contact information
Neighborhood information
Detailed information about recently sold properties
Virtual tours
Floor plans
Detailed information about properties for sale
Photos
Photos
Detailed information about properties
for sale
Floor plans
89%
10% 1%
1%
85
14
55
Virtual tours
29
50
Detailed information about recently sold
properties
32
47
Neighborhood information
7
44
10
8
40
01
11
6
41
7
7
8
Real estate agent contact information
42
33
14
Interactive maps
41
34
11
14
13
13
Pending sales/contract status
39
36
Information about upcoming open
houses
26
35
Videos
26
34
Real estate news or articles
8
0%
Very Useful
Somewhat Useful
27
20%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
21
16
27
40%
Not Useful
18
12
24
38
60%
Did not use/Not Available
80%
100%
THE HOME SEARCH PROCESS
Exhibit 3-20
MOBILE SEARCH BY FIRST-TIME AND REPEAT BUYERS
(Percent of Respondents Among those Who Used Mobile Search)
Found my home with a mobile
application
Found my agent with a mobile
application
Did not search for homes on
mobile device
All Buyers
First-time
Buyers
Repeat
Buyers
51
52
51
10
11
10
46
45
47
All Buyers
First-time
Buyers
Repeat
Buyers
58%
60%
57%
14%
15%
13%
U.S.
Found my home with a mobile
application
Found my agent with a mobile
application
60%
60%
58%
57%
50%
40%
30%
20%
14%
15%
13%
10%
0%
Found my home
with a mobile
application
Found my agent with a mobile application
All Buyers
First-time
Buyers
Repeat Buyers
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
THE HOME SEARCH PROCESS
Exhibit 3-21
SATISFACTION IN BUYING PROCESS
(Percentage Distribution)
Texas
Very Satisfied
Somewhat Satisfied
Somewhat Dissatisfied
Very Dissatisfied
59%
33
6
2
SATISFACTION IN BUYING PROCESS
Somewhat
Dissatisfied
6%
Very
Dissatisfied
2%
Very Satisfied
59%
Somewhat
Satisfied
33%
U.S.
Very Satisfied
Somewhat Satisfied
Somewhat Dissatisfied
Very Dissatisfied
Somewhat
Dissatisfied
6%
60%
32
6
2
SATISFACTION IN BUYING PROCESS
Somewhat
Satisfied
32%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Very
Dissatisfied
2%
Very Satisfied
60%
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-1
Exhibit 4-2
Exhibit 4-3
Exhibit 4-4
Exhibit 4-5
Exhibit 4-6
Exhibit 4-7
Exhibit 4-8
Exhibit 4-9
Exhibit 4-10
Exhibit 4-11
Exhibit 4-12
Exhibit 4-13
Exhibit 4-14
Exhibit 4-15
Exhibit 4-16
Exhibit 4-17
Exhibit 4-18
Exhibit 4-19
Exhibit 4-20
Exhibit 4-21
Exhibit 4-22
Exhibit 4-24
METHOD OF HOME PURCHASE, 2001-2016
METHOD OF HOME PURCHASE, BY REGION
METHOD OF HOME PURCHASE, NEW AND PREVIOUSLY OWNED HOMES
METHOD OF HOME PURCHASE, BY ADULT COMPOSITION OF HOUSEHOLD
AGENT REPRESENTATION DISCLOSURE, FIRST-TIME AND REPEAT BUYERS
BUYER REPRESENTATIVE ARRANGEMENT WITH AGENT, FIRST-TIME AND REPEAT BUYERS
HOW REAL ESTATE AGENT WAS COMPENSATED
WHAT BUYERS WANT MOST FROM REAL ESTATE AGENTS
WHAT BUYERS WANT MOST FROM REAL ESTATE AGENTS, FIRST-TIME AND REPEAT BUYERS,
AND BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
WHAT BUYERS WANT MOST FROM REAL ESTATE AGENTS, BY ADULT COMPOSITION OF
HOUSEHOLD
BENEFITS
PROVIDED BY REAL ESTATE AGENT DURING HOME PURCHASE PROCESS, FIRSTTIME AND REPEAT BUYERS
HOW BUYER FOUND REAL ESTATE AGENT, FIRST-TIME AND REPEAT BUYERS
HOW BUYER FOUND REAL ESTATE AGENT, BY ADULT COMPOSITION OF HOUSEHOLD
HOW MANY TIMES CONTACTED AGENT BEFORE RECEIVED RESPONSE AND ORIGINAL FORM
OF CONTACT
NUMBER OF REAL ESTATE AGENTS INTERVIEWED BY FIRST-TIME AND REPEAT BUYERS
MOST IMPORTANT FACTORS WHEN CHOOSING AN AGENT
IMPORTANCE OF REAL ESTATE AGENT SKILLS AND QUALITIES
AGENT SKILLS AND QUALITIES CONSIDERED 'VERY IMPORTANT' BY FIRST-TIME AND REPEAT
BUYERS, AND BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
AGENT SKILLS AND QUALITIES CONSIDERED 'VERY IMPORTANT' BY ADULT COMPOSITION OF
HOUSEHOLD
IMPORTANCE OF AGENT COMMUNICATIONS
SATISFACTION WITH REAL ESTATE AGENT SKILLS AND QUALITIES
WOULD BUYER USE REAL ESTATE AGENT AGAIN OR RECOMMEND TO OTHERS
HOW MANY TIMES BUYER RECOMMENDED TYPICAL AGENT
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 4, Page 1 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-1
METHOD OF HOME PURCHASE, 2001-2015
(Percentage Distribution)
Texas
2016
86%
9
5
Through a real estate agent or broker
Directly from builder or builder's agent
Directly from the previous owner
U.S.
2001
69%
15
15
Through a real estate agent or broker
Directly from builder or builder's agent
Directly from the previous owner
2003
75%
14
9
2004
77%
12
9
2005
77%
12
9
2006
77%
13
9
2007
79%
12
7
2008
81%
10
6
2009
77%
8
5
2010
83%
6
5
2011
89%
7
4
2012
89%
6
5
2013
88%
7
5
2014
88%
7
5
2015
87%
8
5
100%
90%
80%
75%
70%
77%
77%
77%
12
9
12
9
13
9
79%
81%
12
7
10
6
89%
89%
88%
88%
87%
88%
7
4
6
5
7
5
7
5
8
5
6
5
83%
77%
69%
60%
50%
40%
30%
20%
15
10%
14
9
8
5
6
5
0%
2001
2003
2004
2005
2006
Through a real estate agent or broker
2007
2008
2009
2010
2011
Directly from builder or builder's agent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
2012
2013
2014
2015
2016
Directly from the previous owner
Chapter 4, Page 2 of 24
2016
88%
6
5
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-2
METHOD OF HOME PURCHASE, BY REGION
(Percentage Distribution)
BUYERS WHO PURCHASED A HOME IN THE
Through a real estate agent or broker
Directly from builder or builder's agent
Directly from the previous owner
Knew previous owner
Did not know previous owner
Texas
86%
9
4
2
2
U.S.
88%
6
5
2
3
Northeast
92%
2
5
3
2
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Midwest
90%
4
6
3
3
South
86%
7
6
2
4
West
89%
8
3
2
1
Chapter 4, Page 3 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-3
METHOD OF HOME PURCHASE, NEW AND PREVIOUSLY OWNED HOMES
(Percentage Distribution)
Texas
Through a real estate agent or broker
Directly from builder or builder's agent
Directly from the previous owner
Knew previous owner
Did not know previous owner
BUYERS OF
Previously
New
Homes
Owned
Homes
All Buyers
86%
51%
93%
9
47
*
4
1
7
2
1
4
2
*
3
*Less than 1 percent
U.S.
BUYERS OF
Through a real estate agent or broker
Directly from builder or builder's agent
Directly from the previous owner
Knew previous owner
Did not know previous owner
Previously
All Buyers New Homes Owned Homes
88%
60%
93%
6
39
*
5
*
6
2
*
3
3
*
3
NA- Not Applicable
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 4, Page 4 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-4
METHOD OF HOME PURCHASE, BY ADULT COMPOSITION OF HOUSEHOLD
(Percentage Distribution)
Texas
Through a real estate agent or broker
Directly from builder or builder's agent
Directly from the previous owner
Knew previous owner
Did not know previous owner
All Buyers
86%
9
4
2
2
ADULT COMPOSITION OF HOUSEHOLD
Married Single
Single Unmarried
couple female
male
couple Other
86%
11
2
1
1
88%
4
8
4
4
87%
9
4
4
*
82% 100%
18
*
*
*
*
*
*
*
*Less than 1 percent
U.S.
All
Buyers
Through a real estate agent or broker
Directly from builder or builder's agent
Directly from the previous owner
Knew previous owner
Did not know previous owner
88%
6
5
2
3
ADULT COMPOSITION OF HOUSEHOLD
Married Single
Single Unmarried
couple female
male
couple Other
88%
7
5
2
3
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
89%
6
5
2
3
89%
4
6
4
2
92%
4
2
2
1
89%
4
6
2
4
Chapter 4, Page 5 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-5
AGENT REPRESENTATION DISCLOSURE, FIRST-TIME AND REPEAT BUYERS
(Percentage Distribution)
Texas
Disclosure Statement Signed?
Yes, at first meeting
Yes, when contract was written
Yes, at some other time
No
Don’t know
All Buyers
31%
18
18
17
16
First-time Buyers
16%
19
19
20
26
Repeat Buyers
37%
17
18
16
12
All Buyers
29%
21
12
20
19
First-time Buyers
25%
19
13
23
21
Repeat Buyers
31%
22
11
19
17
U.S.
Disclosure Statement Signed?
Yes, at first meeting
Yes, when contract was written
Yes, at some other time
No
Don’t know
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 4, Page 6 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-6
BUYER REPRESENTATIVE ARRANGEMENT WITH AGENT, FIRST-TIME AND REPEAT BUYERS
(Percentage Distribution)
Texas
Yes, a written arrangement
Yes, an oral arrangement
No
Don’t know
All Buyers
48%
17
23
12
First-time Buyers
36%
21
24
19
Repeat Buyers
53%
15
22
10
All Buyers
42%
16
29
14
First-time Buyers
37%
18
26
19
Repeat Buyers
44%
15
30
11
U.S.
Yes, a written arrangement
Yes, an oral arrangement
No
Don't know
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 4, Page 7 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-7
HOW REAL ESTATE AGENT WAS COMPENSATED
(Percentage Distribution)
Texas
All Types of
Representation
Paid by seller
Paid by buyer and seller
Paid by buyer only
Other
Don't know
TYPE OF AGENT REPRESENTATION
Seller or
Seller and Buyer
Buyer Only
55%
11
20
2
12
59%
11
22
1
7
48%
8
18
4
21
U.S.
All Types of
Representation
Paid by seller
Paid by buyer and seller
Paid by buyer only
Percent of sales price
Flat fee
Other
Don't know
Other
Don’t know
TYPE OF AGENT REPRESENTATION
Seller or
Seller and Buyer
Buyer Only
57%
12
20
16
1
*
*
*
2
56%
10
19
18
1
*
2
2
13
58%
13
22
15
1
*
2
2
7
*Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 4, Page 8 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-8
WHAT BUYERS WANT MOST FROM REAL ESTATE AGENTS
(Percentage Distribution)
Help find the right home to purchase
Help buyer negotiate the terms of sale
Help with the price negotiations
Determine what comparable homes were selling for
Help with paperwork
Help determining how much home buyer can afford
Help find and arrange financing
Help teach buyer more about neighborhood or area (restaurants, parks,
public transportation)
Help find renters for buyer's property
Texas
U.S.
49%
12%
9%
9%
8%
4%
4%
50%
13%
12%
8%
8%
4%
3%
2%
0%
1%
*
WHAT BUYERS WANT MOST FROM REAL ESTATE PROFESSIONALS
(Percentage Distribution)
Texas
Help determining how
much home buyer can
afford, 4%
Help find and arrange
financing, 4%
Help teach buyer more
about neighborhood or
area (restaurants,
parks, public
transportation), 2%
Help find
renters for
buyer's
property, 0%
Help find the right
home to purchase, 49%
Help with paperwork,
8%
Determine what
comparable homes
were selling for, 9%
Help with the price
negotiations, 9%
Help buyer negotiate
the terms of sale, 12%
WHAT BUYERS WANT MOST FROM REAL ESTATE PROFESSIONALS
(Percentage Distribution)
U.S.
Help determining how much
home buyer can afford, 4%
Help find and arrange
financing, 3%
Help teach buyer more about
neighborhood or area
(restaurants, parks, public
transportation),
Help1%
find renters for buyer's
property, 0%
Help find the right home to
purchase, 50%
Help with paperwork, 8%
Determine what comparable
homes were selling for, 8%
Help with the price
negotiations, 12%
Help buyer negotiate the
terms of sale, 13%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 4, Page 9 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-9
WHAT BUYERS WANT MOST FROM REAL ESTATE AGENTS, FIRST-TIME AND REPEAT BUYERS, AND
BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
(Percentage Distribution)
Texas
BUYERS OF
All First-time Repeat
New
Previously
Buyers
Buyers Buyers Homes Owned Homes
Help find the right home to purchase
Help with the price negotiations
Help buyer negotiate the terms of sale
Determine what comparable homes were selling for
Help with paperwork
Help determining how much home buyer can afford
Help find and arrange financing
Help teach buyer more about neighborhood or area
(restaurants, parks, public transportation)
Other
49%
9
12
9
8
4
4
2
47%
11
15
4
7
7
4
1
50%
8
11
12
8
3
3
2
47%
12
12
12
9
*
7
*
50%
8
12
9
8
5
3
1
3
4
2
2
3
*Less than 1 percent
U.S.
Help find the right home to purchase
Help buyer negotiate the terms of sale
Help with the price negotiations
Determine what comparable homes were selling for
Help with paperwork
Help determining how much home buyer can afford
Help find and arrange financing
Help teach buyer more about neighborhood or area
Help find renters for buyer's property
Other
BUYERS OF
All First-time Repeat
New
Previously
Buyers
Buyers Buyers Homes Owned Homes
50%
13
12
8
8
4
3
1
*
2
50%
12
12
6
7
6
4
1
*
1
50%
14
11
8
8
2
2
1
*
2
46%
13
12
11
6
2
3
3
1
2
*Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 4, Page 10 of 24
51%
13
12
7
8
4
3
1
*
2
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-10
WHAT BUYERS WANT MOST FROM REAL ESTATE AGENTS, BY ADULT COMPOSITION OF HOUSEHOLD
(Percentage Distribution)
Texas
ADULT COMPOSITION OF HOUSEHOLD
All
Buyers
Help find the right home to purchase
Help with the price negotiations
Help buyer negotiate the terms of sale
Determine what comparable homes were selling for
Help with paperwork
Help determining how much home buyer can afford
Help find and arrange financing
Help teach buyer more about neighborhood or area
(restaurants, parks, public transportation)
Other
Single Unmarried
male
couple Other
49%
9
12
9
8
4
60%
8
10
8
3
3
44%
19
14
8
3
3
70%
5
*
10
5
*
50%
*
29
21
*
*
42%
10
10
7
12
9
4
2
3
3
6
*
10
*
*
*
4
3
3
2
3
*
*
3
U.S.
ADULT COMPOSITION OF HOUSEHOLD
All
Buyers
Help find the right home to purchase
Help buyer negotiate the terms of sale
Help with the price negotiations
Determine what comparable homes were selling for
Help with paperwork
Help determining how much home buyer can afford
Help find and arrange financing
Help teach buyer more about neighborhood or area
(restaurants, parks, public transportation)
Help find renters for buyer's property
Other
Married Single
couple female
Married Single
couple female
50%
13
12
8
8
4
3
50%
13
11
9
8
3
3
1
*
2
2
*
2
54%
14
12
4
6
5
3*
0
*
2
Single Unmarried
male
couple Other
49%
9
17
10
10
2
52%
16
11
5
9
3
2
53%
11
10
6
5
2
6
0
*
3
1
*
2
1
*
6
*Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 4, Page 11 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-11
BENEFITS PROVIDED BY REAL ESTATE AGENT DURING HOME PURCHASE PROCESS, FIRSTTIME AND REPEAT BUYERS
(Percent of Respondents)
Texas
All Buyers
First-time
Buyers
Repeat
Buyers
54%
51
51
41
36
34
32
25
16
24
2
6
71%
49
51
45
32
37
35
39
5
27
1
4
47%
52
51
40
38
32
30
19
20
23
2
6
All Buyers
First-time
Buyers
Repeat
Buyers
Helped buyer understand the process
61%
Pointed out unnoticed features/faults with property
55
Negotiated better sales contract terms
47
Provided a better list of service providers (e.g. home inspector) 39
Improved buyer's knowledge of search areas
43
Negotiated a better price
36
Shortened buyer's home search
29
Provided better list of mortgage lenders
22
Expanded buyer's search area
21
Narrowed buyer's search area
15
None of the above
6
Other
2
80%
59
49
39
47
39
30
26
24
14
4
1
51%
53
46
38
41
35
28
20
19
15
7
2
Helped buyer understand the process
Pointed out unnoticed features/faults with property
Negotiated better sales contract terms
Improved buyer's knowledge of search areas
Provided a better list of service providers
Negotiated a better price
Shortened buyer's home search
Provided better list of mortgage lenders
Narrowed buyer's search area
Expanded buyer's search area
Other
None of the above
U.S.
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 4, Page 12 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-12
HOW BUYER FOUND REAL ESTATE AGENT, FIRST-TIME AND REPEAT BUYERS
(Percentage Distribution)
Texas
Referred by (or is) a friend, neighbor or relative
Used agent previously to buy or sell a home
Internet Web site (without a specific reference)
Visited an open house and met agent
Saw contact information on For Sale/Open House sign
Referred by another real estate agent/broker
Personal contact by agent (telephone, e-mail, etc.)
Referred through employer or relocation company
Walked into or called office and agent was on duty
Mobile or tablet application
Newspaper, Yellow Pages or home book ad
Direct mail (newsletter, flyer, postcard, etc.)
Advertising specialty (calendar, magnet, etc.)
Crowdsourcing through social media/knew the person
through social media
Saw the agent's social media page without a connection
Other
All
Buyers
First-time
Buyers
Repeat
Buyers
39%
15
7
4
5
6
5
5
2
*
*
*
*
48%
1
7
5
*
7
9
4
1
1
*
*
*
35%
20
7
3
7
6
3
6
2
*
1
*
*
1
1
1
1
12
1
13
1
11
All
Buyers
First-time
Buyers
Repeat
Buyers
42%
11
9
6
4
5
3
3
2
1
*
*
*
52%
2
11
4
4
4
4
2
2
1
*
*
*
37%
17
8
7
5
6
3
3
2
1
*
*
*
*
*
1
*
11
*
13
1
10
U.S.
Referred by (or is) a friend, neighbor or relative
Used agent previously to buy or sell a home
Internet Web site (without a specific reference)
Visited an open house and met agent
Saw contact information on For Sale/Open House sign
Referred by another real estate agent/broker
Personal contact by agent (telephone, e-mail, etc.)
Referred through employer or relocation company
Walked into or called office and agent was on duty
Mobile or tablet application
Newspaper, Yellow Pages or home book ad
Direct mail (newsletter, flyer, postcard, etc.)
Advertising specialty (calendar, magnet, etc.)
Crowdsourcing through social media/knew the person
through social media
Saw the agent's social media page without a connection
Other
*Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 4, Page 13 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-13
HOW BUYER FOUND REAL ESTATE AGENT, BY ADULT COMPOSITION OF HOUSEHOLD
(Percentage Distribution)
Texas
Referred by (or is) a friend, neighbor or relative
Used agent previously to buy or sell a home
Internet Web site (without a specific reference)
Referred by another real estate agent/broker
Visited an open house and met agent
Saw contact information on For Sale/Open House
sign
Personal contact by agent (telephone, e-mail,
etc.)
ADULT COMPOSITION OF HOUSEHOLD
All Married Single Single Unmarried
Buyers couple female male
couple Other
39%
15
7
6
4
42%
14
6
7
2
33%
18
9
4
7
43%
17
9
*
*
44%
11
*
*
11
50%
25
*
25
*
5
5
2
9
11
*
5
5
2
4
*
*
Referred through employer or relocation company
5
6
2
9
11
*
Walked into or called office and agent was on duty
Mobile or tablet application
Newspaper, Yellow Pages or home book ad
Advertising specialty (calendar, magnet, etc.)
Direct mail (newsletter, flyer, postcard, etc.)
Crowdsourcing through social media/knew the
person through social media
Saw the agent's social media page without a
connection
Other
2
*
*
*
*
1
1
*
*
*
*
*
*
*
*
4
*
*
*
*
*
*
*
*
*
*
*
*
*
*
1
1
*
*
*
*
1
12
1
10
2
20
*
4
*
11
*
*
U.S.
Referred by (or is) a friend, neighbor or relative
Used agent previously to buy or sell a home
Internet Web site (without a specific reference)
Referred by another real estate agent/broker
Visited an open house and met agent
Saw contact information on For Sale/Open House
sign
Personal contact by agent (telephone, e-mail,
etc.)
ADULT COMPOSITION OF HOUSEHOLD
All Married Single Single Unmarried
Buyers couple female male
couple Other
42%
11
9
6
4
40%
12
10
5
6
47%
11
8
5
6
45%
16
7
3
5
49%
5
7
6
5
36%
11
12
10
11
5
5
4
5
3
2
3
4
4
3
2
2
Referred through employer or relocation company
3
3
1
2
3 *
Walked into or called office and agent was on duty
Mobile or tablet application
Newspaper, Yellow Pages or home book ad
Advertising specialty (calendar, magnet, etc.)
Direct mail (newsletter, flyer, postcard, etc.)
Crowdsourcing through social media/knew the
person through social media
Saw the agent's social media page without a
connection
Other
2
1
* *
* *
*
2
1
2
1 *
1 *
2
3
2
*
1
*
1
* *
*
1 *
*
*
*
*
1
*
*
*
11
*
10
*
11
*
11
1
13
2
8
*
4
2
*Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 4, Page 14 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-14
HOW MANY TIMES CONTACTED AGENT BEFORE RECEIVED RESPONSE AND ORIGINAL FORM OF CONTACT
(Median, Percentage Distribution)
Texas
Phone call
43%
E-mail
13
Contacted friend/family
6
Web form on home listing website
5
Text message
6
Through agent's website
2
Social Media (FaceBook, Twitter, LinkedIn, etc.)3
Talked to them in person
22
Number of Times Contacted (median)
1
U.S.
Phone call
Talked to them in person
E-mail
Ask a friend to put me in touch
Inquiry for more information through
3rd party website
Text message
Through agent's website
Social Media (FaceBook, Twitter,
LinkedIn, etc.)
Number of Times Contacted (median)
41%
21
15
9
6
4
2
2
1
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 4, Page 15 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-15
NUMBER OF REAL ESTATE AGENTS INTERVIEWED BY FIRST-TIME AND REPEAT BUYERS
(Percentage Distribution)
Texas
One
Two
Three
Four or more
All Buyers
71%
20
7
2
First-time Buyers
62%
28
9
1
Repeat Buyers
75%
17
7
2
All Buyers
First-time Buyers
Repeat Buyers
69%
19
8
4
64%
23
10
4
71%
17
7
4
U.S.
One
Two
Three
Four or more
Repeat Buyers
71%
First-time Buyers
17
64%
All Buyers
23
69%
0%
20%
One
Two
19
40%
60%
Three
Four or more
80%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
7 4
10
4
8
4
100%
Chapter 4, Page 16 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-16
MOST IMPORTANT FACTORS WHEN CHOOSING AN AGENT
(Percentage Distribution)
Texas
19%
19%
U.S.
21%
18%
10%
17%
17%
12%
9%
9%
7%
6%
7%
6%
Agent seems 100% accessible because
of use of technology like tablet or smart
Agent's association with a particular firm
8%
4%
2%
2%
Active in local community/volunteerism
Professional designations held by agent
Other (Specify)
0%
1%
3%
1%
0%
3%
Agent is honest and trustworthy
Agent's experience
Reputation of agent
Agent is friend or family member
Agent's knowledge of the neighborhood
Agent has caring personality/good
listener
Agent is timely with responses
MOST IMPORTANT FACTORS IN CHOOSING AN AGENT
(Percentage Distribution)
Active in local
community/volunteeris
m, 1%
Agent seems 100%
accessible because of
use of technology like
tablet or smart phone,
4%
U.S.
Agent's
association
with a
particular firm,
2%
MOST IMPORTANT FACTORS IN CHOOSING AN AGENT
Texas
Agent is timely with
responses, 6%
Agent is honest and
trustworthy, 21%
Agent is timely with
responses, 6%
(Percentage Distribution)
Agent seems 100%
accessible because
of use of technology
like tablet or smart
phone, 8%
Professional
designations held by
agent, 0%
Other (Specify), 3%
Agent has caring
personality/good
listener, 7%
Agent is honest and
trustworthy, 19%
Agent's knowledge of
the neighborhood, 9%
Agent has caring
personality/good
listener, 7%
Agent is friend or family
member, 12%
Agent's experience,
18%
Reputation of agent,
17%
Agent's experience,
19%
Agent's knowledge of
the neighborhood, 9%
Agent is friend or
family member, 17%
Reputation of agent,
10%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 4, Page 17 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-17
IMPORTANCE OF REAL ESTATE AGENT SKILLS AND QUALITIES
(Percentage Distribution)
Texas
Honesty and integrity
Knowledge of purchase process
Responsiveness
Knowledge of real estate market
Communication skills
Negotiation skills
People skills
Knowledge of local area
Skills with technology
Very
Important
Somewhat
Important
Not
Important
99%
94
94
94
90
85
81
83
59
1%
5
6
6
9
13
19
15
34
*
1
*
*
1
2
1
2
7
Very
Important
Somewhat
Important
Not
Important
53
80
82
86
89
92
95
94
98%
40
18
17
13
11
7
5
6
2%
7
2
1
1
1
1
1
*
*
U.S.
Skills with technology
Knowledge of local area
People skills
Negotiation skills
Communication skills
Knowledge of real estate market
Knowledge of purchase process
Responsiveness
Honesty and integrity
*Less than 1 percent
Honesty and integrity
98%
2%
0%
Responsiveness
94
6 0
Knowledge of purchase process
95
5
Knowledge of real estate market
92
Communication skills
89
Negotiation skills
13
82
Knowledge of local area
Very Important
0
11
86
People skills
Skills with technology
7 1
17
80
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
1
18
53
Somewhat
Important
20
40
1
40
Not Important
60
2
7
80
100
Chapter 4, Page 18 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-18
AGENT SKILLS AND QUALITIES CONSIDERED 'VERY IMPORTANT' BY FIRST-TIME AND
REPEAT BUYERS, AND BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
(Percent of Respondents)
Texas
Honesty and integrity
Knowledge of purchase process
Responsiveness
Knowledge of real estate market
Communication skills
Negotiation skills
People skills
Knowledge of local area
Skills with technology
All Buyers
First-time
Buyers
99%
94
94
94
90
85
81
83
59
99%
97
93
96
88
89
81
86
63
All Buyers
First-time
Buyers
98%
94
95
92
89
86
82
80
53
97%
97
93
91
90
88
83
77
54
BUYERS OF
Repeat
New
Previously
Buyers Homes Owned Homes
99%
93
95
93
91
84
80
82
58
100%
95
100
95
93
84
93
83
67
99%
95
93
94
90
86
79
83
58
U.S.
Honesty and integrity
Knowledge of purchase process
Responsiveness
Knowledge of real estate market
Communication skills
Negotiation skills
People skills
Knowledge of local area
Skills with technology
BUYERS OF
Repeat
New
Previously
Buyers Homes Owned Homes
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
98%
94
95
93
88
85
81
82
52
98%
95
91
92
86
83
84
82
58
98%
95
94
93
89
87
82
80
53
Chapter 4, Page 19 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-19
AGENT SKILLS AND QUALITIES CONSIDERED 'VERY IMPORTANT' BY ADULT
COMPOSITION OF HOUSEHOLD
(Percentage Distribution)
Texas
ADULT COMPOSITION OF HOUSEHOLD
Honesty and integrity
Knowledge of purchase process
Responsiveness
Knowledge of real estate market
Communication skills
Negotiation skills
People skills
Knowledge of local area
Skills with technology
All Buyers
Married
couple
Single
female
99%
94
94
94
90
85
81
83
59
99%
93
95
93
90
84
79
82
57
100%
98
98
96
100
93
93
87
62
Single Unmarried
male
couple
100%
91
87
96
78
87
70
83
65
100%
100
100
89
89
89
78
89
67
Other
100%
100
100
75
100
75
75
75
75
U.S.
All Buyers
Honesty and integrity
Knowledge of purchase process
Responsiveness
Knowledge of real estate market
Communication skills
Negotiation skills
People skills
Knowledge of local area
Skills with technology
98%
94
95
92
89
86
82
80
53
ADULT COMPOSITION OF HOUSEHOLD
Married
Single Single Unmarried
couple female
male
couple Other
98%
94
95
93
88
86
82
91
53
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
98%
96
95
94
92
88
85
91
55
97%
93
91
91
85
86
76
91
52
96%
95
93
89
87
89
81
72
57
96%
90
90
88
91
80
78
79
54
Chapter 4, Page 20 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-20
IMPORTANCE OF AGENT COMMUNICATIONS
(Percent of Respondents)
Texas
First-time
All Buyers
Buyers
Calls personally to inform of activities
Sends postings as soon as a property is
listed/the price changes/under contract
Sends emails about specific needs
Active in local community/volunteerism
Can send market reports on recent listings
and sales
Sends property info and communicates via
text message
Has a web page
Has a mobile site to show properties
Sends an email newsletter
Advertises in newspapers
Is active on social media
Has a blog
Repeat
Buyers
75%
71%
76%
73
41
11
75
40
73
42
58
53
60
62
35
33
41
11
12
2
64
33
33
*
*
13
4
*
36
33
5
3
10
1
First-time
All Buyers
Buyers
Repeat
Buyers
U.S.
Calls personally to inform of activities
Sends postings as soon as a property is
listed/the price changes/under contract
Sends property info and communicates via
text message
Sends emails about specific needs
Can send market reports on recent listings
and sales
Has a website
Has a mobile site to show properties
Is active on social media
Sends an email newsletter
Advertises in newspapers
Has a blog
75%
75%
76%
73
71
73
62
47
65
47
60
47
55
35
33
10
9
5
1
50
33
32
11
10
3
2
58
36
33
10
8
5
1
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 4, Page 21 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-21
SATISFACTION WITH REAL ESTATE AGENT SKILLS AND QUALITIES
(Percentage Distribution)
Texas
Knowledge of purchase process
Honesty and integrity
Knowledge of real estate market
People skills
Responsiveness
Knowledge of local area
Communication skills
Skills with technology
Negotiation skills
Very Satisfied
91%
93
90
88
88
84
88
87
76
Somewhat Satisfied
8%
7
10
11
11
15
11
11
22
Not Satisfied
1%
*
*
1
1
1
1
2
1
Very Satisfied
77
84
85
84
88
87
92
89
89%
Somewhat Satisfied
17
14
12
14
9
11
7
9
8%
Not Satisfied
6
2
3
2
3
2
1
2
3%
U.S.
Negotiation skills
Skills with technology
Communication skills
Knowledge of local area
Responsiveness
People skills
Knowledge of real estate market
Knowledge of purchase process
Honesty and integrity
Honesty and integrity
89%
Knowledge of purchase process
8% 3%
89
Knowledge of real estate market
9
92
2
7 1
People skills
87
11
2
Responsiveness
88
9
3
Knowledge of local area
84
14
2
Communication skills
85
12
3
Skills with technology
84
14
2
Negotiation skills
Very Satisfied
0%
77
Somewhat
Satisfied
20%
40%
17
Not Satisfied
60%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
80%
6
100%
Chapter 4, Page 22 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-22
WOULD BUYER USE REAL ESTATE AGENT AGAIN OR RECOMMEND TO OTHERS
(Percentage distribution)
Texas
Definitely
Probably
Probably Not
Definitely Not
Don’t Know
75%
15%
5%
4%
1%
WOULD BUYER USE ESTATE AGENT AGAIN OR
RECOMMEND TO OTHERS
(Percentage Distribution)
80%
75%
70%
60%
50%
40%
30%
20%
15%
10%
5%
4%
Probably Not
Definitely Not
1%
0%
Definitely
U.S.
Definitely
Probably
Probably Not
Definitely Not
Don't Know
All
Buyers
73%
15
6
5
1
Probably
Don’t Know
WOULD BUYER USE ESTATE AGENT AGAIN OR RECOMMEND TO
OTHERS
(Percentage Distribution)
80%
70%
60%
50%
40%
30%
20%
10%
0%
73%
15
6
Definitely
Probably
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Probably
Not
5
Definitely
Not
1
Don't Know
Chapter 4, Page 23 of 24
HOME BUYING AND REAL ESTATE PROFESSIONALS
Exhibit 4-23
HOW MANY TIMES BUYER RECOMMENDED TYPICAL AGENT
(Percentage distribution)
Texas
All Buyers
None
One time
Two times
Three times
Four or more times
Times recommended since
buying (median)
U.S.
None
One time
Two times
Three times
Four or more times
Times recommended since
buying (median)
32%
16
23
12
17
2
All Buyers
35%
15
21
10
19
1
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 4, Page 24 of 24
FINANCING THE HOME PURCHASE
Exhibit 5-1
Exhibit 5-2
Exhibit 5-3
Exhibit 5-4
Exhibit 5-5
Exhibit 5-6
Exhibit 5-7
Exhibit 5-8
Exhibit 5-9
BUYERS WHO FINANCED THEIR HOME PURCHASE, BY AGE
BUYERS WHO FINANCED THEIR HOME PURCHASE, BY ADULT COMPOSITION OF HOUSEHOLD
PERCENT OF HOME FINANCED BY FIRST-TIME AND REPEAT BUYERS, AND BUYERS OF NEW AND
PREVIOUSLY OWNED HOMES
MEDIAN PERCENT OF DOWNPAYMENT BY FIRST-TIME AND REPEAT BUYERS, 1989-2016
SOURCES OF DOWNPAYMENT, FIRST-TIME AND REPEAT BUYERS
SOURCES OF DOWNPAYMENT, BY ADULT COMPOSITION OF HOUSEHOLD
LENGTH OF TIME TO SAVE FOR A DOWNPAYMENT, FIRST-TIME AND REPEAT BUYERS
LENGTH OF TIME TO SAVE FOR A DOWNPAYMENT, BY ADULT COMPOSITION OF HOUSEHOLD
YEARS DEBT DELAYED HOME BUYERS FROM SAVING FOR A DOWNPAYMENT OR BUYING A HOME
Exhibit 5-10 EXPENSES THAT DELAYED SAVING FOR A DOWNPAYMENT OR SAVING FOR A HOME PURCHASE, BY
FIRST-TIME AND REPEAT BUYERS
Exhibit 5-11 EXPENSES THAT DELAYED SAVING FOR A DOWNPAYMENT OR SAVING FOR A HOME PURCHASE, BY
ADULT COMPOSITION OF HOUSEHOLD
Exhibit 5-12 SACRIFICES MADE TO PURCHASE HOME, BY FIRST-TIME AND REPEAT BUYERS
Exhibit 5-13 SACRIFICES MADE TO PURCHASE HOME, BY ADULT COMPOSITION OF HOUSEHOLD
Exhibit 5-14 DIFFICULTY OF MORTGAGE APPLICATION AND APPROVAL PROCESS, BY FIRST-TIME AND REPEAT
BUYERS
Exhibit 5-15 DIFFICULTY OF MORTGAGE APPLICATION AND APPROVAL PROCESS, BY ADULT COMPOSITION OF
HOUSEHOLD
Exhibit 5-16 BUYER MORTGAGE APPLICATION HAD BEEN REJECTED FROM MORTGAGE LENDER
Exhibit 5-17 BUYERS WHO HAVE STUDENT LOAN DEBT
Exhibit 5-18 BUYER PREVIOUSLY SOLD A DISTRESSED PROPERTY (SHORT SALE OR FORECLOSURE)
Exhibit 5-19 TYPE OF MORTGAGE, FIRST-TIME AND REPEAT BUYERS
Exhibit 5-20 TYPE OF LOAN, FIRST-TIME AND REPEAT BUYERS
Exhibit 5-21 BUYERS' VIEW OF HOMES AS A FINANCIAL INVESTMENT, FIRST-TIME AND REPEAT BUYERS, AND
BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
Exhibit 5-22 BUYERS' VIEW OF HOMES AS A FINANCIAL INVESTMENT, BY ADULT COMPOSITION OF HOUSEHOLD
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 5, Page 1 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-1
BUYERS WHO FINANCED THEIR HOME PURCHASE, BY AGE
(Percent of Respondents)
Texas
All Buyers
18 to 24
25 to 44
45 to 64
65 or older
86%
96%
96%
87%
61%
BUYERS WHO FINANCED THEIR HOME PURCHASE, BY
AGE
(Percent of Respondents)
Texas
96%
100%
96%
87%
86%
80%
61%
60%
40%
20%
0%
All Buyers
18 to 24
25 to 44
45 to 64
65 or older
Age
U.S.
All Buyers
18 to 24
25 to 44
45 to 64
65 or older
88%
98%
98%
86%
63%
BUYERS WHO FINANCED THEIR HOME PURCHASE, BY
AGE
(Percent of Respondents)
U.S.
98%
100
98%
88%
86%
80
63%
60
40
20
0
All Buyers
18 to 24
25 to 44
45 to 64
65 or older
Age
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 5, Page 2 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-2
BUYERS WHO FINANCED THEIR HOME PURCHASE, BY ADULT COMPOSITION OF HOUSEHOLD
(Percent of Respondents)
Texas
All Buyers
All Buyers
First-time Buyers
Repeat Buyers
86%
91
85
ADULT COMPOSITION OF HOUSEHOLD
Married
Single
Single Unmarried
couple
female
male
couple
89%
89
83
80%
94
79
73%
90
85
91%
100
88
Other
100%
100
80
U.S.
All Buyers
All Buyers
First-time Buyers
Repeat Buyers
88%
96
84
ADULT COMPOSITION OF HOUSEHOLD
Married
Single
Single Unmarried
couple
female
male
couple
88%
96
85
83%
94
77
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
87%
95
82
95%
99
88
Other
90%
90
89
Chapter 5, Page 3 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-3
PERCENT OF HOME FINANCED BY FIRST-TIME AND REPEAT BUYERS, AND BUYERS OF NEW
AND PREVIOUSLY OWNED HOMES
(Percentage Distribution)
Texas
BUYERS OF
Less than 50%
50% to 59%
60% to 69%
70% to 79%
80% to 89%
90% to 94%
95% to 99%
100% – Financed the entire
purchase price with a mortgage
Median percent financed
All Buyers
9%
*
*
9
16
22
41
3
First-time
Buyers
11%
1
*
9
12
16
32
19
Repeat
Buyers
8%
6
3
16
24
17
17
10
New
Homes
16%
3
2
15
21
15
16
13
Previously
Owned Homes
6%
5
2
13
20
17
24
13
94%
95%
87%
87%
91%
* Less than 1 percent
U.S.
BUYERS OF
Less than 50%
50% to 59%
60% to 69%
70% to 79%
80% to 89%
90% to 94%
95% to 99%
100% – Financed the entire
purchase price with a mortgage
Median percent financed
All Buyers
First-time
Buyers
Repeat
Buyers
New
Homes
Previously
Owned Homes
9%
4
4
11
23
14
21
14
8%
2
2
7
20
15
29
17
10%
5
6
14
25
13
16
11
13%
4
6
13
21
11
21
10
8%
3
4
11
24
14
21
14
90%
94%
86%
87%
90%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 5, Page 4 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-4
MEDIAN PERCENT OF DOWNPAYMENT BY FIRST-TIME AND REPEAT BUYERS, 1989(Percentage Distribution)
1989
1991
1993
1995
1997
1999
2001
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
All Buyers First-time Buyers
Repeat Buyers
20%
10%
23%
11%
7%
20%
12%
6%
20%
10%
5%
20%
13%
9%
21%
10%
3%
19%
18%
6%
25%
16%
6%
23%
13%
3%
22%
13%
2%
21%
9%
2%
16%
9%
3%
16%
9%
4%
15%
8%
4%
15%
8%
4%
16%
11%
5%
15%
9%
4%
13%
10%
5%
14%
10%
6%
13%
10%
6%
14%
10%
6%
11%
MEDIAN PERCENT OF DOWNPAYMENT BY FIRST-TIME AND REPEAT BUYERS, 1989-2016
30%
25%
25%
23%
23%
22%
21%
20%
20%
20%
20%
21%
20%
19%
18%
16%
16%
16%
15%
16%
15%
15%
15%
14%
13%
13%
13%
13%
14%
13%
12%
11%
10%
11%
10%
10%
10%
10%
9%
9%
9%
9%
10%
10%
11%
10%
6%
6%
6%
9%
8%
8%
4%
4%
7%
6%
5%
6%
6%
5%
5%
4%
3%
3%
5%
4%
3%
2%
2%
%
1989
1991
1993
1995
1997
1999
2001
2003
All Buyers
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
2004
2005
2006
2007
First-time Buyers
2008
2009
2010
2011
2012
2013
2014
2015
2016
Repeat Buyers
Chapter 5, Page 5 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-5
SOURCES OF DOWNPAYMENT, FIRST-TIME AND REPEAT BUYERS
(Percent of Respondents Among those who Made a Downpayment)
Texas
Savings
Proceeds from sale of primary residence
Gift from relative or friend
Sale of stocks or bonds
401k/pension fund including a loan
Loan from relative or friend
Equity from primary residence buyer continue to own
Inheritance
Individual Retirement Account (IRA)
Loan or financial assistance from source other than employer
Proceeds from sale of real estate other than primary residence
Loan from financial institution other than a mortgage
Loan or financial assistance through employer
Other
All
Buyers
First-time
Buyers
Repeat
Buyers
85%
9
38
3
21
3
3
3
3
*
*
*
*
6
72%
*
28
3
18
4
*
3
*
3
*
*
*
8
45%
61
7
5
4
2
2
3
2
*
1
*
*
2
All
Buyers
First-time
Buyers
Repeat
Buyers
3%
1%
1%
1%
2%
2%
3%
3%
4%
7%
9%
13%
35%
61%
5%
*
1%
3%
*
1%
3%
5%
5%
8%
11%
24%
2%
76%
2%
1%
1%
1%
2%
3%
3%
2%
3%
7%
8%
8%
52%
53%
U.S.
Other
Loan or financial assistance through employer
Loan from financial institution other than a mortgage
Loan or financial assistance from source other than employer
Equity from primary residence buyer continue to own
Proceeds from sale of real estate other than primary residence
Individual Retirement Account (IRA)
Loan from relative or friend
Inheritance
Sale of stocks or bonds
401k/pension fund including a loan
Gift from relative or friend
Proceeds from sale of primary residence
Savings
* Less than 1 percent
61%
Savings
Proceeds from sale of primary residence
53%
2%
52%
13%
Gift from relative or friend
76%
35%
8%
24%
9%
11%
8%
401k/pension fund including a loan
7%
8%
7%
Sale of stocks or bonds
Inheritance
4%
5%
3%
Loan from relative or friend
3%
5%
2%
Individual Retirement Account (IRA)
3%
3%
3%
Proceeds from sale of real estate other
than primary residence
2%
1%
3%
Equity from primary residence buyer
continue to own
2%
0%
2%
Loan or financial assistance from source
other than employer
1%
3%
1%
Loan from financial institution other than
a mortgage
1%
1%
1%
0% 10% 20% 30% 40% 50% 60% 70% 80%
All Buyers
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
First-time Buyers
Repeat Buyers
Chapter 5, Page 6 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-6
SOURCES OF DOWNPAYMENT, BY ADULT COMPOSITION OF HOUSEHOLD
(Percent of Respondents Among those who Made a Downpayment)
Texas
All Buyers
Savings
Proceeds from sale of primary residence
Gift from relative or friend
Sale of stocks or bonds
401k/pension fund including a loan
Loan from relative or friend
Equity from primary residence buyer continue to own
Inheritance
Individual Retirement Account (IRA)
Loan or financial assistance from source other than employer
Proceeds from sale of real estate other than primary residence
Loan from financial institution other than a mortgage
Loan or financial assistance through employer
Other
85%
9
38
3
21
3
3
3
3
6
U.S.
All Buyers
Savings
61%
Proceeds from sale of primary residence
35
Gift from relative or friend
13
401k/pension fund including a loan
9
Sale of stocks or bonds
7
Inheritance
4
Loan from relative or friend
3
Individual Retirement Account (IRA)
3
Proceeds from sale of real estate other than primary residence
2
Equity from primary residence buyer continue to own
2
Loan or financial assistance from source other than employer
1
Loan from financial institution other than a mortgage
1
Loan or financial assistance through employer
1
Other
3
ADULT COMPOSITION OF HOUSEHOLD
Married Single Single Unmarried
couple female male
couple Other
51%
47
10
4
7
3
2
1
1
1
1
*
*
2
55%
40
19
2
10
*
*
7
2
*
*
*
*
10
59%
32
14
9
5
*
*
5
*
*
*
*
*
9
50% 100%
40
*
10
*
*
*
10
43
* Texas
*
*
10
*
*
100
*
*
*
*
*
57
*
*
*
*
ADULT COMPOSITION OF HOUSEHOLD
Married Single Single Unmarried
couple female male
couple Other
60%
41
13
8
7
3
3
3
2
2
1
1
1
3
52%
33
13
10
6
5
3
4
2
1
4
1
*
4
66%
23
12
7
5
2
1
3
2
2
3
1
2
5
70%
17
18
12
8
9
3
2
2
*
*
*
*
3
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 5, Page 7 of 23
61%
32
12
13
8
9
2
6
1
2
2
*
*
2
FINANCING THE HOME PURCHASE
Exhibit 5-7
LENGTH OF TIME TO SAVE FOR A DOWNPAYMENT, FIRST-TIME AND REPEAT BUYERS
(Percentage Distribution Among those who Made a Downpayment)
Texas
All First-time
Buyers
Buyers
6 months or less
6 to 12 months
12 to 18 months
18 to 24 months
24 months to 5 years
More than 5 years
24%
44
6
3
21
3
Repeat
Buyers
39%
25
13
8
13
3
59%
11
7
3
19
1
All First-time
Buyers
Buyers
Repeat
Buyers
U.S.
6 months or less
6 to 12 months
12 to 18 months
18 to 24 months
24 months to 5 years
More than 5 years
40%
15%
9%
7%
27%
2%
31%
18%
11%
9%
29%
2%
47%
13%
8%
6%
25%
2%
50%
45%
47%
40%
40%
35%
31%
29%
27%
25%
30%
25%
18%
15%
13%
20%
15%
9%
10%
11%
8%
7%
9%
6%
5%
2% 2% 2%
0%
6 months or less
6 to 12 months
12 to 18 months 18 to 24 months
All Buyers
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
First-time Buyers
24 months to 5 More than 5 years
years
Repeat Buyers
Chapter 5, Page 8 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-8
LENGTH OF TIME TO SAVE FOR A DOWNPAYMENT, BY ADULT COMPOSITION OF HOUSEHOLD
(Percentage Distribution Among those who Made a Downpayment)
Texas
6 months or less
6 to 12 months
12 to 18 months
18 to 24 months
24 months to 5 years
More than 5 years
All Buyers
24%
44
6
3
21
3
ADULT COMPOSITION OF HOUSEHOLD
Married
Single
Single Unmarried
couple
female
male
couple
53%
52%
69%
22%
17
6
6
44
6
15
19
11
3
9
6
*
20
15
*
22
1
3
*
*
Other
35%
16
12
14
21
2
All Buyers
40%
15%
9%
7%
27%
2%
ADULT COMPOSITION OF HOUSEHOLD
Married
Single
Single Unmarried
couple
female
male
couple
41%
41%
37%
40%
15%
12%
16%
17%
9%
11%
8%
8%
7%
6%
10%
9%
27%
29%
28%
22%
2%
2%
1%
5%
Other
41%
13%
12%
13%
20%
1%
U.S.
6 months or less
6 to 12 months
12 to 18 months
18 to 24 months
24 months to 5 years
More than 5 years
45%
41%
40%
41%
41%
40%
40%
37%
35%
29%
30%
27%
28%
27%
25%
22%
20%
20%
15%
15%
10%
13% 13%
12%
12%
11%
9%
7%
5%
9%
7%
2%
17%
16%
15%
10%
8%
9%
8%
6%
2%
5%
2%
1%
1%
0%
All Buyers
6 months or less
Married couple
6 to 12 months
Single female
12 to 18 months
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Single male
18 to 24 months
Unmarried couple
24 months to 5 years
Other
More than 5 years
Chapter 5, Page 9 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-9
YEARS DEBT DELAYED HOME BUYERS FROM SAVING FOR A DOWNPAYMENT OR BUYING A HOME
(Percentage Distribution)
Texas
One year
Two years
Three years
Four years
Five years
More than five years
Median
All Buyers
First-time
Buyers
Repeat
Buyers
20%
19
15
5
19
22
3
19%
13
19
6
22
21
4
23%
27
12
4
15
20
3
All Buyers
First-time
Buyers
Repeat
Buyers
17%
21
17
7
16
22
3
16%
20
17
7
16
24
3
20%
23
16
8
15
16
3
U.S.
One year
Two years
Three years
Four years
Five years
More than five years
Median
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 5, Page 10 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-10
EXPENSES THAT DELAYED SAVING FOR A DOWNPAYMENT OR SAVING FOR A HOME PURCHASE, BY FIRST-TIME AND REPEAT BUYERS
(Percent of Respondents Who Reported Saving for a Down Payment was Difficult)
Texas
All First-time
Buyers
Buyers Repeat Buyers
Share Saving for Downpayment was
Most Difficult Task in Buying Process:
Debt that Delayed Saving:
11%
27%
5%
Student Loans
Credit card debt
Car loan
Child care expenses
Health care costs
Other
36%
36
28
32
32
8
40%
30
25
25
35
10
20%
60
40
60
20
*
U.S.
Share Saving for Downpayment was
Most Difficult Task in Buying Process:
Debt that Delayed Saving:
Student Loans
Credit card debt
Car loan
Child care expenses
Health care costs
Other
Median Years Debt Delayed Home
Purchase Among Those Who Had
Difficulty Saving
All Buyers
13%
49%
40
34
18
14
15
3
First-time
Buyers Repeat Buyers
26%
6%
55%
36
35
14
15
11
3
36%
49
29
26
10
23
3
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 5, Page 11 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-11
EXPENSES THAT DELAYED SAVING FOR A DOWNPAYMENT OR SAVING FOR A HOME PURCHASE, BY ADULT COMPOSITION OF HOUSEHOLD
(Percent of Respondents Who Reported Saving for a Down Payment was Difficult)
Texas
All Buyers
Married
couple
Single
female
Single
male
Unmarried
couple
Other
Share Saving for Downpayment was
Most Difficult Task in Buying Process:
Debt that Delayed Saving:
11%
11%
14%
*
9%
*
Student Loans
Credit card debt
Car loan
Child care expenses
Health care costs
Other
36%
36
28
32
32
8
29%
50
36
43
43
*
20%
40
40
20
40
20
*
*
*
*
*
*
100%
*
*
*
*
*
*
*
*
*
*
*
All Buyers
Married
couple
Single
female
Single
male
Unmarried
couple
Other
Share Saving for Downpayment was
Most Difficult Task in Buying Process:
Debt that Delayed Saving:
13%
13%
12%
13%
18%
11%
Student Loans
Credit card debt
Car loan
Child care expenses
Health care costs
Other
Median Years Debt Delayed Home
Purchase Among Those Who Had
Difficulty Saving
49%
40
34
18
14
15
3
50%
44
29
25
15
13
3
51%
38
34
10
15
24
5
27%
41
34
*
21
17
3
62%
24
49
6
7
16
2
20%
20
60
30
*
33
2
U.S.
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 5, Page 12 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-12
SACRIFICES MADE TO PURCHASE HOME, BY FIRST-TIME AND REPEAT BUYERS
(Percent of Respondents)
Texas
All
Buyers
First-time
Buyers
Repeat
Buyers
30%
22
19
11
5
5
4
62
44%
34
28
13
6
6
7
46
23%
17
14
10
5
5
3
69
All
Buyers
First-time
Buyers
Repeat
Buyers
3%
60%
2%
5%
6%
10%
17%
22%
29%
4%
44%
3%
7%
9%
14%
27%
34%
43%
3%
68%
1%
4%
4%
8%
11%
16%
22%
Cut spending on luxury items or non-essential items
Cut spending on entertainment
Cut spending on clothes
Cancelled vacation plans
Earned extra income through a second job
Sold a vehicle or decided not to purchase a vehicle
Other
Did not need to make any sacrifices
U.S.
Other
Did not need to make any sacrifices
Paid minimum payments on bills
Sold a vehicle or decided not to purchase a vehicle
Earned extra income through a second job
Cancelled vacation plans
Cut spending on clothes
Cut spending on entertainment
Cut spending on luxury or non-essential items
29%
Cut spending on luxury or non-essential items
22%
22%
Cut spending on entertainment
16%
17%
Cut spending on clothes
11%
34%
27%
10%
14%
Cancelled vacation plans
8%
6%
9%
Earned extra income through a second job
4%
5%
7%
4%
Sold a vehicle or decided not to purchase a vehicle
2%
3%
1%
Paid minimum payments on bills
Did not need to make any sacrifices
44%
60%
68%
3%
4%
3%
Other
0%
All Buyers
43%
10% 20% 30% 40% 50% 60% 70% 80%
First-time Buyers
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Repeat Buyers
Chapter 5, Page 13 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-13
SACRIFICES MADE TO PURCHASE HOME, BY ADULT COMPOSITION OF HOUSEHOLD
(Percent of Respondents)
Texas
All
Buyers
Cut spending on luxury items or non-essential items
Cut spending on entertainment
Cut spending on clothes
Cancelled vacation plans
Earned extra income through a second job
Sold a vehicle or decided not to purchase a vehicle
Other
Did not need to make any sacrifices
30%
22
19
11
5
5
4
62
ADULT COMPOSITION OF HOUSEHOLD
Married Single Single Unmarried
couple female male
couple Other
26%
22
16
10
5
6
5
65
40%
31
33
17
8
4
4
54
16%
20
8
16
*
4
4
64
9%
18
18
9
*
*
*
82
75%
50
50
*
25
*
*
25
U.S.
All
Buyers
Cut spending on luxury or non-essential items
Cut spending on entertainment
Cut spending on clothes
Cancelled vacation plans
Earned extra income through a second job
Sold a vehicle or decided not to purchase a vehicle
Paid minimum payments on bills
Did not need to make any sacrifices
Other
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
29%
22
17
10
6
5
2
60
3
ADULT COMPOSITION OF HOUSEHOLD
Married Single Single Unmarried
couple female male
couple Other
27%
21
15
9
5
5
2
62
3
31%
23
24
8
7
3
2
57
4
31%
28
15
13
2
6
3
59
3
36%
28
20
11
6
5
1
51
3
Chapter 5, Page 14 of 23
29%
21
21
21
8
8
6
48
2
FINANCING THE HOME PURCHASE
Exhibit 5-14
DIFFICULTY OF MORTGAGE APPLICATION AND APPROVAL PROCESS, BY FIRST-TIME
AND REPEAT BUYERS
(Percentage Distribution Among those who Financed their Home Purchase)
Texas
Much more difficult than expected
Somewhat more difficult than expected
Not difficult/No more difficult than expected
Easier than expected
All Buyers
15%
17
48
19
First-time
Buyers
15%
20
38
27
Repeat
Buyers
15%
16
53
16
Repeat
Buyers
First-time
Buyers
All Buyers
15%
21%
48%
17%
13%
27%
36%
24%
14%
23%
43%
20%
* Less than 1 percent
U.S.
Much more difficult than expected
Somewhat more difficult than expected
Not difficult/No more difficult than expected
Easier than expected
All Buyers
14%
First-time Buyers
13%
Repeat Buyers
23%
27%
15%
0%
10%
43%
36%
21%
20%
20%
24%
48%
30%
40%
50%
60%
17%
70%
80%
Much more difficult than expected
Somewhat more difficult than expected
Not difficult/No more difficult than expected
Easier than expected
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
90%
100%
Chapter 5, Page 15 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-15
DIFFICULTY OF MORTGAGE APPLICATION AND APPROVAL PROCESS, BY ADULT COMPOSITION OF
HOUSEHOLD
(Percentage Distribution Among those who Financed their Home Purchase)
Texas
Much more difficult than expected
Somewhat more difficult than expected
Not difficult/No more difficult than expected
Easier than expected
All Buyers
15%
17
48
19
ADULT COMPOSITION OF HOUSEHOLD
Married
Single Single Unmarried
couple female
male
couple
Other
16%
18
47
19
13%
13
51
23
22%
17
50
11
20%
10
30
40
25%
25
50
*
* Less than 1 percent
U.S.
ADULT COMPOSITION OF HOUSEHOLD
Unmarrie
Single Single
Married
All
Other d couple
male female
couple Buyers
Much more difficult than expected
Somewhat more difficult than expected
Not difficult/No more difficult than expected
Easier than expected
13%
18%
47%
22%
All Buyers
14%
23%
Married couple
14%
23%
Single female
13%
17%
Unmarried couple
17%
13%
0%
17%
28%
37%
17%
14%
23%
43%
20%
20%
18%
40%
25%
28%
37%
21%
20%
14%
23%
46%
18%
46%
17%
39%
18%
10%
13%
22%
40%
25%
43%
22%
Single male
Other
17%
21%
39%
23%
23%
47%
30%
40%
50%
22%
60%
70%
Much more difficult than expected
Somewhat more difficult than expected
Not difficult/No more difficult than expected
Easier than expected
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
80%
90%
Chapter 5, Page 16 of 23
100%
FINANCING THE HOME PURCHASE
Exhibit 5-16
BUYER MORTGAGE APPLICATION HAD BEEN REJECTED FROM MORTGAGE LENDER
(Percentage Distribution)
Texas
Have had application
denied
Median number of times
application was denied
Buyer reasons why
rejected by mortgage
lender
Debt to income ratio
Low credit score
Income was unable to
be verified
Not enough money in
reserves
Insufficient
downpayment
Too soon after
refinancing another
property
Other
U.S.
Have had application
denied
Median number of times
application was denied
Buyer reasons why
rejected by mortgage
lender
Debt to income ratio
Low credit score
Income was unable to
be verified
Not enough money in
reserves
Insufficient
downpayment
Too soon after
refinancing another
property
Other
All Buyers
First-time Buyers
Repeat Buyers
5%
8%
5%
1*
2
14
17
10
5
15
*
24
19
19
5
5
5
2
5
*
2
*
5
57
70
43
All Buyers
First-time Buyers
Repeat Buyers
5%
7%
4%
1
1
1
15
14
6
16
18
3
15
11
8
4
4
4
3
5
2
2
*
4
54
53
55
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 5, Page 17 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-17
BUYERS WHO HAVE STUDENT LOAN DEBT
(Percenage Distribution)
Texas
Have student loan debt
Under $10,000
$10,000 to $24,999
$25,000 to $49,999
$50,000 to $74,999
$75,000 or more
Median amount of
student loan debt
All Buyers
First-time Buyers
Repeat Buyers
23%
29%
26
17
8
20
$20,000
32%
17%
34
24
7
17
$20,000
19%
23%
18
16
18
25
$20,000
All Buyers
First-time Buyers
Repeat Buyers
27%
21%
26
23
14
16
$25,000
40%
20%
25
25
14
16
$26,000
19%
23%
28
21
13
16
$24,200
U.S.
Have student loan debt
Under $10,000
$10,000 to $24,999
$25,000 to $49,999
$50,000 to $74,999
$75,000 or more
Median amount of
student loan debt
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 5, Page 18 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-18
BUYER PREVIOUSLY SOLD A DISTRESSED PROPERTY (SHORT SALE OR FORECLOSURE)
(Percentage Distribution)
Texas
All Buyers
Previously had a distressed property sale
11%
Median year of sale
2010
U.S.
Previously had a distressed property
sale
Median year of sale
All Buyers
9%
2011
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 5, Page 19 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-19
TYPE OF MORTGAGE, FIRST-TIME AND REPEAT BUYERS
(Percentage Distribution Among those who Financed their Home Purchase)
Texas
First-time
Buyers Repeat Buyers
78%
80%
4%
1%
2
1
6
2
1
*
All Buyers
88%
3%
*
3
3
Fixed-rate mortgage
Fixed-then adjustable rate mortgage
Adjustable-rate mortgage
Don't know
Other
* Less than 1 percent
U.S.
Repeat
Buyers
93%
4%
2%
1%
1%
Fixed-rate mortgage
Fixed-then adjustable rate mortgage
Adjustable-rate mortgage
Don't know
Other
First-time
Buyers
90%
4%
1%
4%
1%
All Buyers
92%
4%
2%
2%
1%
* Less than 1 percent
All Buyers
92%
First-time Buyers
4%
90%
Repeat Buyers
4%
93%
84%
86%
88%
2%
1%
92%
94%
1%
4%
4%
90%
2%
2%
96%
Fixed-rate mortgage
Fixed-then adjustable rate mortgage
Adjustable-rate mortgage
Don't know
1%
1%
98%
1%
100%
Other
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 5, Page 20 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-20
TYPE OF LOAN, FIRST-TIME AND REPEAT BUYERS
(Percentage Distribution Among those who Financed their Home Purchase)
Texas
First-time
Buyers Repeat Buyers
33%
60%
11
17
41
18
12
3
2
1
All Buyers
36%
*
55
6
3
Conventional
VA
FHA
Don't know
Other
* Less than 1 percent
U.S.
Repeat
Buyers
65%
18%
13%
3%
2%
Conventional
FHA
VA
Don't Know
Other
All Buyers
First-time
Buyers
48%
33%
9%
6%
4%
All Buyers
59%
24%
12%
4%
2%
59%
First-time Buyers
24%
48%
33%
Repeat Buyers
65%
0%
10%
20%
12%
30%
Conventional
18%
40%
FHA
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
9%
50%
VA
60%
Don't Know
70%
4%2%
6% 4%
13%
80%
90%
3%2%
100%
Other
Chapter 5, Page 21 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-21
BUYERS' VIEW OF HOMES AS A FINANCIAL INVESTMENT, FIRST-TIME AND REPEAT BUYERS,
AND BUYERS OF NEW AND PREVIOUSLY OWNED HOMES
(Percentage Distribution)
Texas
BUYERS OF
Good financial investment
Better than stocks
About as good as stocks
Not as good as stocks
Not a good financial investment
Don’t know
All Buyers
91%
47
32
12
3
6
First-time
Buyers
Repeat
Buyers
New
Homes
Previously
Owned Homes
86%
47
32
7
3
11
85%
55
24
6
6
10
88%
52
30
6
6
6
84%
52
25
7
4
11
* Less than 1 percent
U.S.
BUYERS OF
Good financial investment
Better than stocks
About as good as stocks
Not as good as stocks
Not a good financial investment
Don't know
All Buyers
First-time
Buyers
Repeat
Buyers
New
Homes
Previously
Owned Homes
82%
47
25
10
6
12
83%
47
27
9
3
13
80%
46
24
10
8
12
85%
49
27
9
7
8
81%
46
25
10
6
13
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Chapter 5, Page 22 of 23
FINANCING THE HOME PURCHASE
Exhibit 5-22
BUYERS' VIEW OF HOMES AS A FINANCIAL INVESTMENT, BY ADULT COMPOSITION OF HOUSEHOLD
(Percentage Distribution)
Texas
Good financial investment
Better than stocks
About as good as stocks
Not as good as stocks
Not a good financial investment
Don’t know
All Buyers
91%
47
32
12
3
6
ADULT COMPOSITION OF HOUSEHOLD
Married
Single
Single
Unmarried
couple
female
male
couple
85%
51
28
6
6
8
83%
63
18
2
2
16
73%
50
23
*
12
15
Other
99%
45
27
27
*
*
100%
75
25
*
*
*
ADULT COMPOSITION OF HOUSEHOLD
Married
Single
Single
Unmarried
couple
female
male
couple
Other
* Less than 1 percent
U.S.
All Buyers
Good financial investment
Better than stocks
About as good as stocks
Not as good as stocks
Not a good financial investment
Don't know
82%
47
25
10
6
12
82%
46
25
11
7
12
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
80%
50
22
8
5
16
86%
49
28
9
6
9
84%
44
30
10
4
12
69%
47
22
*
12
19
Chapter 5, Page 23 of 23
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-1
Exhibit 6-2
Exhibit 6-3
Exhibit 6-4
Exhibit 6-5
Exhibit 6-6
Exhibit 6-7
Exhibit 6-8
Exhibit 6-9
Exhibit 6-10
Exhibit 6-11
Exhibit 6-12
Exhibit 6-13
Exhibit 6-14
Exhibit 6-15
Exhibit 6-16
Exhibit 6-17
Exhibit 6-18
Exhibit 6-19
Exhibit 6-20
Exhibit 6-21
Exhibit 6-22
Exhibit 6-23
Exhibit 6-24
Exhibit 6-25
Exhibit 6-26
Exhibit 6-27
Exhibit 6-28
Exhibit 6-29
Exhibit 6-30
Exhibit 6-31
Exhibit 6-32
Exhibit 6-33
Exhibit 6-34
Exhibit 6-35
Exhibit 6-36
Exhibit 6-37
Exhibit 6-38
Exhibit 6-39
Exhibit 6-40
AGE OF HOME SELLERS, BY REGION
HOUSEHOLD INCOME OF HOME SELLERS, 2015
ADULT COMPOSITION OF HOME SELLER HOUSEHOLDS
NUMBER OF CHILDREN UNDER THE AGE OF 18 RESIDING IN HOME SELLER HOUSEHOLD
RACE/ETHNICITY OF HOME SELLERS, BY REGION
PRIMARY LANGUAGE SPOKEN IN HOME SELLER HOUSEHOLD, BY REGION
HOME SELLING SITUATION AMONG REPEAT BUYERS
FIRST-TIME OR REPEAT SELLER
HOMES SOLD AND FOR SALE, BY REGION
LOCATION OF HOME SOLD
PROXIMITY OF HOME SOLD TO HOME PURCHASED
TYPE OF HOME SOLD, BY LOCATION
SIZE OF HOME PURCHASED COMPARED TO HOME RECENTLY SOLD
SIZE OF HOME PURCHASED COMPARED TO HOME RECENTLY SOLD, BY AGE OF SELLER
NUMBER OF BEDROOMS AND BATHROOMS BY ADULT COMPOSITION OF HOUSEHOLD AND CHILDREN IN HOUSEHOLD
AGE OF HOME PURCHASED COMPARED TO HOME RECENTLY SOLD
PRICE OF HOME PURCHASED COMPARED TO HOME RECENTLY SOLD
PRICE OF HOME PURCHASED COMPARED TO HOME RECENTLY SOLD, BY AGE OF SELLER
PRIMARY REASON FOR SELLING PREVIOUS HOME, BY MILES MOVED
PRIMARY REASON FOR SELLING PREVIOUS HOME, BY FIRST-TIME AND REPEAT SELLERS
SELLER WANTED TO SELL EARLIER BUT WAITED OR STALLED BECAUSE HOME WAS WORTH LESS THAN MORTGAGE, BY FIRST-TIME AND REPEAT SELLERS
SELLER WANTED TO SELL EARLIER BUT WAITED OR STALLED BECAUSE HOME WAS WORTH LESS THAN MORTGAGE, BY TENURE IN HOME
TENURE IN PREVIOUS HOME
TENURE IN PREVIOUS HOME, BY AGE OF SELLER
MEDIAN SELLER TENURE IN HOME 1985-2016
DISTANCE BETWEEN HOME PURCHASED AND HOME RECENTLY SOLD, BY REGION
DISTANCE BETWEEN HOME PURCHASED AND HOME RECENTLY SOLD, BY AGE
METHOD USED TO SELL HOME, BY REGION
METHOD USED TO SELL HOME, BY SELLER URGENCY
METHOD OF SALE, BY BUYER AND SELLER RELATIONSHIP
METHOD USED TO SELL HOME, 2001-2016
SALES PRICE COMPARED WITH LISTING PRICE, BY REGION
SALES PRICE COMPARED WITH LISTING PRICE, BY SELLER URGENCY
NUMBER OF WEEKS RECENTLY SOLD HOME WAS ON THE MARKET, BY REGION
SALES PRICE COMPARED WITH LISTING PRICE, BY NUMBER OF WEEKS HOME WAS ON THE
MARKET
NUMBER OF TIMES ASKING PRICE WAS REDUCED, BY NUMBER OF WEEKS HOME WAS ON
THE MARKET
INCENTIVES OFFERED TO ATTRACT BUYERS, BY REGION
INCENTIVES OFFERED TO ATTRACT BUYERS, BY NUMBER OF WEEKS HOME WAS ON THE
MARKET
EQUITY EARNED IN HOME RECENTLY SOLD, BY TENURE IN HOME
SATISFACTION WITH THE SELLING PROCESS
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-1
AGE OF HOME SELLERS, BY REGION
(Percentage Distribution)
SELLERS WHO SOLD A HOME IN THE
18 to 34 years
35 to 44 years
45 to 54 years
55 to 64 years
65 to 74 years
75 years or older
Median age (years)
Texas
12%
20
27
19
17
4
46
U.S.
12%
22
18
22
20
7
54
Northeast
10%
20
17
27
21
6
56
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Midwest
14%
22
18
21
19
5
53
South
11%
23
19
20
19
8
53
West
13%
21
15
22
23
6
55
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-2
HOUSEHOLD INCOME OF HOME SELLERS, 2015
(Percentage Distribution)
SELLERS WHO SOLD A HOME IN THE
Less than $25,000
$25,000 to $34,999
$35,000 to $44,999
$45,000 to $54,999
$55,000 to $64,999
$65,000 to $74,999
$75,000 to $84,999
$85,000 to $99,999
$100,000 to $124,999
$125,000 to $149,999
$150,000 to $174,999
$175,000 to $199,999
$200,000 or more
Median income (2015)
Texas
2%
3
6
4
7
5
7
12
18
11
8
7
11
$105,600
U.S.
2%
4
5
6
6
7
7
12
17
11
7
5
11
$100,700
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Northeast
1%
4
5
5
4
8
3
14
17
11
6
6
16
$108,800
Midwest
South
West
2%
3%
1%
3
5
4
4
4
5
7
5
8
6
6
7
7
8
7
14
5
7
12
12
10
18
18
15
10
12
9
6
7
9
3
5
7
8
12
11
$93,800 $102,800 $101,700
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-3
ADULT COMPOSITION OF HOME SELLER HOUSEHOLDS
(Percentage Distribution)
Texas
2016
71%
17
9
2
1
Married couple
Single female
Single male
Unmarried couple
Other
* Less than 1 percent
U.S.
2004
74%
15
5
5
1
Married couple
Single female
Single male
Unmarried couple
Other
2005
71%
17
6
3
1
2006
72%
17
6
4
1
2007
75%
15
6
3
1
2008
74%
15
7
3
1
2009
75%
14
6
4
1
2010
75%
16
6
3
1
2011
77%
16
6
3
1
2012
76%
14
5
4
1
2013
77%
14
5
4
1
90%
80%
74%
70%
71%
72%
17
17
75%
74%
75%
15
15
14
75%
77%
76%
77%
14
14
77%
74%
76%
60%
50%
40%
30%
20%
15
16
16
10%
0%
5
5
1
2004
6
3
1
2005
6
4
1
2006
6
3
1
7
3
1
Married
2007 couple
2008
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
6
6
4
3
1
1
Single female
2009
2010
6
5
4
3
1
1
Single male
2011
2012
14
12
14
7
6
6
5
4
4
4
4
2
2
1
1
Unmarried
couple 2015 Other
2013
2014
2016
2014
74%
14
7
4
1
2015
77%
12
6
4
2
2016
76%
14
6
4
2
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-4
NUMBER OF CHILDREN UNDER THE AGE OF 18 RESIDING IN HOME SELLER HOUSEHOLD
(Percentage Distribution of Home Seller Households)
NUMBER OF CHILDREN UNDER THE AGE OF 18 RESIDING IN
HOME SELLER HOUSEHOLD
Texas
One
Two
Three or more
None
14%
14%
7%
65%
(Percentage Distribution)
T
One, 14%
WISC
Two, 14%
Three or more,
7%
None, 65%
NUMBER OF CHILDREN UNDER THE AGE OF 18 RESIDING IN
HOME SELLER HOUSEHOLD
U.S.
One
Two
Three or more
None
(Percentage Distribution)
13%
17%
7%
63%
U.S.
One, 13%
Two, 17%
None, 63%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Three or more,
7%
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-5
RACE/ETHNICITY OF HOME SELLERS, BY REGION
(Percent of Respondents)
SELLERS WHO SOLD A HOME IN THE
White/Caucasian
Hispanic/Latino/Mexican/
Puerto Rican
Asian/Pacific Islander
Black/African-American
Other
Texas
87%
U.S.
90%
Northeast
97%
Midwest
94%
South
90%
West
84%
10
3
4
*
5
3
3
2
2
1
1
1
3
1
2
1
4
2
4
2
9
6
2
2
* Less than 1 percent
Note: Respondents were permitted to select as many races and ethnicities as they felt applicable.
The percentage distribution may therefore sum to more than 100 percent.
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-6
PRIMARY LANGUAGE SPOKEN IN HOME SELLER HOUSEHOLD, BY REGION
(Percentage Distribution)
SELLERS WHO SOLD A HOME IN THE
English
Other
Texas
98%
2
U.S.
98%
2
Northeast
99%
1
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Midwest
98%
2
South
98%
2
West
99%
1
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-7
HOME SELLING SITUATION AMONG REPEAT BUYERS
(Percentage Distribution)
HOME SELLING SITUATION AMONG REPEAT BUYERS
Texas
Sold in 2016
Sold in 2015
Sold in 2014 or
earlier
Home has not yet
sold and is
currently vacant
Home has not yet
sold, but currently
renting to others
27%
46%
14%
Do not plan to sell
previous home
6%
Did not own
previous home
4%
2%
2%
(Percentage Distribution
T
Do not plan to
sell previous
home, 6%
Did not own
previous home,
4%
Home has not
yet sold, but
currently
renting to
others, 2%
Sold in 2016,
27%
Home has not
yet sold and is
currently
vacant, 2%
Sold in 2014 or
earlier, 14%
Sold in 2015,
46%
U.S.
Sold in 2016
Sold in 2015
Sold in 2014 or
earlier
Home has not yet
sold and is
currently vacant
Home has not yet
sold, but currently
renting to others
Do not plan to sell
previous home
Did not own
previous home
HOME SELLING SITUATION AMONG REPEAT BUYERS
25%
44%
14%
3%
3%
6%
5%
(Percentage Distribution
Do not plan to
sell previous
home, 6%
Home has not
yet sold, but
currently
renting to
others, 3%
U.S.
Did not own
previous home,
5%
Sold in 2016,
25%
Home has not
yet sold and is
currently
vacant, 3%
Sold in 2014 or
earlier, 14%
Sold in 2015,
44%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-8
FIRST-TIME OR REPEAT SELLER
(Percentage Distribution)
FIRST-TIME OR REPEAT SELLER
(Percentage Distribution
Texas
First-time
seller
Repeat
seller
40%
First-time seller,
40%
60%
`
Repeat seller,
60%
U.S.
First-time
seller
40%
Repeat
seller
60%
FIRST-TIME OR REPEAT SELLER
(Percentage Distribution
U.S.
First-time seller,
40%
Repeat seller,
60%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-9
HOMES SOLD AND FOR SALE, BY REGION
(Percentage Distribution)
U.S.
Home has not
Homes
yet sold and is
Sold currently vacant
Northeast
Midwest
South
West
14%
23
39
25
Home has not yet
sold, but currently
renting to others
20%
17
39
23
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
15%
21
51
14
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-10
LOCATION OF HOME SOLD
(Percentage Distribution)
Texas
Home has not
yet sold and is
Homes Sold currently vacant
Suburb/Subdivision
Small town
Urban area/Central city
Rural area
Resort/Recreation area
57%
11
20
10
2
Home has not yet
sold, but currently
renting to others
55%
9
*
36
*
33%
33
33
*
*
Home has not
yet sold and is
Homes Sold currently vacant
Home has not yet
sold, but currently
renting to others
* Less than 1 percent
U.S.
Suburb/Subdivision
Small town
Urban area/Central city
Rural area
Resort/Recreation area
53%
16
14
14
3
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
34%
25
11
24
6
44%
24
18
10
3
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-11
PROXIMITY OF HOME SOLD TO HOME PURCHASED
(Percentage Distribution)
PROXIMITY OF HOME SOLD TO HOME PURCHASED
Texas
Same state
Same region
Other region
(Percentage Distribution of Households)
70%
11%
18%
WISC
Other region,
18%
Same region,
11%
Same state,
70%
PROXIMITY OF HOME SOLD TO HOME PURCHASED
U.S.
Same state
Same region
Other region
(Percentage Distribution of Households)
72%
12%
16%
Other region,
16%
U.S.
Same region,
12%
Same state,
72%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-12
TYPE OF HOME SOLD, BY LOCATION
(Percentage Distribution)
Texas
SELLERS WHO SOLD A HOME IN A
Detached single-family home
Townhouse/row house
Apartment/condo in a building
with 5 or more units
Duplex/apartment/condo in 2 to
4 unit building
Other
All
Sellers
Suburb/
Subdivision
Small
town
Urban/
Central city
Rural
area
Resort/
Recreation
area
83%
89%
74%
91%
71%
33%
6
1
6
1
9
*
3
3
*
*
*
*
1
*
*
*
*
33
9
4
17
3
29
33
U.S.
SELLERS WHO SOLD A HOME IN A
Detached single-family home
Townhouse/row house
Apartment/condo in a building
with 5 or more units
Duplex/apartment/condo in 2 to
4 unit building
Other
All
Sellers
Suburb/
Subdivision
Small
town
Urban/
Central city
Rural
area
Resort/
Recreation
area
81%
7
4
85%
8
3
82%
5
4
70%
11
9
79%
3
1
65%
3
9
3
3
3
4
2
8
6
2
6
6
16
15
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-13
SIZE OF HOME PURCHASED COMPARED TO HOME RECENTLY SOLD
(Percentage Distribution)
U.S.
SIZE OF
HOME
SOLD
1,000 sq ft or less
1,001 to 1,500 sq ft
1,501 to 2,000 sq ft
2,001 to 2,500 sq ft
2,501 to 3,000 sq ft
More than 3,000 sq ft
* Less than 1 percent
1,000 sq ft or
less
*
*
*
*
*
*
SIZE OF HOME PURCHASED
1,001 sq ft to
1,501 sq ft to 2,001 sq ft to 2,501 sq ft to
1,500 sq ft
2,000 sq ft
2,500 sq ft
3,000 sq ft
*
*
*
*
2
5
5
2
2
6
8
5
2
5
7
5
1
2
4
3
1
3
5
4
43%
Trading Up
28%
Remaining at the same size range
29%
Trading Down
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
More than
3,000 sq ft
*
2
3
6
5
8
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-14
SIZE OF HOME PURCHASED COMPARED TO HOME RECENTLY SOLD, BY AGE OF SELLER
(Median Square Feet)
U.S.
18 to 34 years
35 to 44 years
45 to 54 years
55 to 64 years
65 to 74 years
75 years or older
Size of home
sold
Size of home
purchased
1,500
1,800
2,200
2,100
2,000
2,000
2,100
2,400
2,300
2,000
1,900
1,800
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Difference
600
600
100
-100
-100
-200
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-15
NUMBER OF BEDROOMS AND BATHROOMS BY ADULT COMPOSITION OF HOUSEHOLD AND CHILDREN IN HOUSEHOLD
(Precentage Distribution)
Texas
ADULT COMPOSITION OF HOUSEHOLD
One bedroom
Two bedrooms
Three bedrooms or more
Median number of bedrooms
One full bathroom
Two full bathrooms
Three full bathrooms or more
Median number of full bathrooms
All Sellers
Married
couple
Single
female
Single
male
Unmarried
couple
Other
*
5
95
3
6
68
25
2
*
3
97
3
6
68
26
2
*
16
84
3
9
66
25
2
*
7
93
3
7
80
13
2
5%
21
74
3
35
48
16
2
*
100
*
2
*
75
25
2
CHILDREN IN HOME
Children
No
under 18 children
in home in home
*
5
95
4
5
67
28
2
*
6
94
3
8
70
23
2
U.S.
ADULT COMPOSITION OF HOUSEHOLD
One bedroom
Two bedrooms
Three bedrooms or more
Median number of bedrooms
One full bathroom
Two full bathrooms
Three full bathrooms or more
Median number of full bathrooms
All Sellers
Married
couple
Single
female
Single
male
Unmarried
couple
Other
1%
13
86
3
15
61
24
2
1%
10
89
3
14
61
25
2
3%
15
81
3
19
57
24
2
1%
26
73
3
19
62
18
2
1%
35
64
3
22
62
16
2
*
13
84
4
18
55
27
2
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
CHILDREN IN HOME
Children
No
under 18 children
in home in home
*
9
91
3
17
61
22
3
1%
14
84
3
14
61
25
2
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-16
AGE OF HOME PURCHASED COMPARED TO HOME RECENTLY SOLD
(Percentage Distribution)
U.S.
2015
2011 through 2014
Year home sold was built 2007 through 2010
2002 through 2006
1987 through 2001
1961 through 1986
1913 through 1959
1912 and older
2015
1
1
3
4
5
3
1
*
2011
through
2014
*
*
1
1
2
1
*
*
YEAR PURCHASED HOME WAS BUILT
2007
2002
1987
1961
through through
through through
2010
2006
2001
1986
*
*
*
*
*
*
1
*
2
1
1
1
2
3
3
3
1
5
7
4
1
4
8
7
1
1
2
5
*
1
1
1
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
19%
Purchased Older Home
25%
Purchased a Home the Same Age
56%
Purchased a Newer Home
1913
through 1912 and
1960
older
*
*
*
*
1
*
1
*
2
*
3
1
4
*
1
1
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-17
PRICE OF HOME PURCHASED COMPARED TO HOME RECENTLY SOLD
(Percentage Distribution)
U.S.
PRICE OF
HOME
SOLD
Less than $100,000
$100,000 to $149,999
$150,000 to $199,999
$200,000 to $249,999
$250,000 to $299,999
$300,000 to $349,999
$350,000 to $399,999
$400,000 to $499,999
$500,000 or more
* Less than 1 percent
Less than
$100,000
2%
1
1
1
*
*
*
*
*
PRICE OF HOME PURCHASED
$100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000
to
to
to
to
to
to
to $500,000
$149,999 $199,999 $249,999 $299,999 $349,999 $399,999 $499,999 or more
3%
2%
1%
*
*
*
*
*
2
4
2
1
*
1
*
*
3
4
5
4
1
1
1
*
1
3
3
2
2
2
1
1
1
2
2
2
2
2
1
1
*
1
2
2
2
1
2
1
*
*
1
1
1
1
1
1
*
*
*
1
1
1
2
2
*
*
1
1
1
1
2
6
44%
Trading Up
24%
Remaining at the same price range
32%
Trading Down
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-18
PRICE OF HOME PURCHASED COMPARED TO HOME RECENTLY SOLD, BY AGE OF SELLER
(Median)
18 to 34 years
35 to 44 years
45 to 54 years
55 to 64 years
65 to 74 years
75 years or older
Price of home
sold
Price of home
purchased
$185,000
$220,000
$279,700
$279,600
$249,600
$242,000
$261,400
$307,500
$287,700
$252,000
$236,700
$215,000
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Difference
$76,400
$87,500
$8,000
-$27,600
-$12,900
-$27,000
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-19
PRIMARY REASON FOR SELLING PREVIOUS HOME, BY MILES MOVED
(Percentage Distribution)
Texas
AGE OF HOME SELLER
All Sellers
Job relocation
Home is too small
Change in family situation (e.g., marriage, birth of a child,
divorce)
Want to move closer to friends or family
Neighborhood has become less desirable
Home is too large
Moving due to retirement
Want to move closer to current job
Upkeep of home is too difficult due to health or financial
limitations
Can not afford the mortgage and other expenses of owning
home
Other
10 miles 11 to 20 21 to 50 51 to 100 101 to 500 501 miles
or less
miles
miles
miles
miles or more
24%
16
12
4%
33
22
13%
13
4
*
15
15
*
*
100
62%
*
*
53%
*
6
10
12
8
4
5
3
*
16
16
*
4
*
*
26
13
4
4
9
20
10
5
5
20
*
*
*
*
*
*
*
23
*
*
8
*
*
22
3
3
6
*
3
1
*
*
5
*
*
*
2
*
4
5
*
8
*
U.S.
MILES MOVED
Home is too small
Want to move closer to friends or family
Job relocation
Neighborhood has become less desirable
Change in family situation (e.g., marriage, birth of a child,
divorce)
Home is too large
Moving due to retirement
Upkeep of home is too difficult due to health or financial
limitations
Want to move closer to current job
To avoid possible foreclosure
Can not afford the mortgage and other expenses of owning
home
Other
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
All Sellers
18%
15
14
10
10
10 miles 11 to 20 21 to 50 51 to 100 101 to 500 501 miles
or less
miles
miles
miles
miles or more
34%
2
1
15
14
20%
8
5
17
14
15%
17
1
10
15
1%
35
17
7
2%
30
35
5
4
1%
28
38
3
3
10
7
5
18
2
6
11
3
8
7
3
8
1
11
6
4
12
1
3
16
2
5
3
2
2
4
2
7
2
5
15
2
3
11
4
3
3
*
2
1
2
1
1
1
2
2
3
*
2
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-20
PRIMARY REASON FOR SELLING PREVIOUS HOME, BY FIRST-TIME AND REPEAT SELLERS
(Percentage Distribution)
Texas
All Sellers
16%
24
10
First-time Seller
Repeat Seller
25%
16
13
10%
28
10
12
14
11
8
12
2
11
13
12
Moving due to retirement
Want to move closer to current job
4
5
5
5
4
5
Upkeep of home is too difficult due
to health or financial limitations
3
*
4
Can not afford the mortgage and
other expenses of owning home
1
*
1
To avoid possible foreclosure
Other
3
2
7
2
1
2
All Sellers
18%
15
First-time Seller
Repeat Seller
31%
9
9%
18
14
10
13
12
14
9
10
9
11
Home is too large
Moving due to retirement
Upkeep of home is too difficult due
to health or financial limitations
10
7
5
5
4
4
14
9
6
Want to move closer to current job
5
5
4
To avoid possible foreclosure
3
4
1
Can not afford the mortgage and
other expenses of owning home
Other
2
1
3
1
1
1
Home is too small
Job relocation
Want to move closer to friends or
family
Neighborhood has become less
desirable
Home is too large
Change in family situation (e.g.,
marriage, birth of a child, divorce)
U.S.
Home is too small
Want to move closer to friends or
family
Job relocation
Neighborhood has become less
desirable
Change in family situation (e.g.,
marriage, birth of a child, divorce)
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-21
SELLER WANTED TO SELL EARLIER BUT WAITED OR STALLED BECAUSE HOME WAS WORTH LESS THAN MORTGAGE, BY FIRST-TIME AND REPEAT SELLERS
(Percentage Distribution)
Texas
Yes, and lived in home
Yes, but rented home to
others and lived elsewhere
All Sellers
5%
2
No, sold home when I
wanted to sell
93
First-time
Seller
Repeat
Seller
4%
7
5%
1
89
94
First-time
Seller
Repeat
Seller
13%
3
10%
1
85
89
U.S.
Yes, and lived in home
Yes, but rented home to
others and lived elsewhere
All Sellers
11%
1
No, sold home when I
wanted to sell
87
100%
90%
80%
70%
60%
85
87
89
50%
40%
30%
20%
10%
3
1
1
13%
11%
10%
0%
All Sellers
Yes, and lived in home
First-time Seller
Yes, but rented home to others and lived elsewhere
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Repeat Seller
No, sold home when I wanted to sell
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-22
SELLER WANTED TO SELL EARLIER BUT WAITED OR STALLED BECAUSE HOME WAS WORTH LESS THAN MORTGAGE, BY TENURE IN HOME
(Percentage Distribution)
Texas
All Sellers
Yes, and lived in home
5%
Yes, but rented home to others
2
and lived elsewhere
No, sold home when I wanted
93
to sell
1 year or
less
2 to 3
years
4 to 5
years
6 to 7
years
8 to 10
years
11 to 15
years
16 to 20 21 years
years or more
*
*
2%
2
*
8
6%
6
8%
5
*
*
24%
6
*
*
*
96
92
88
88
100
71
100
3 years
or less
4 to 5
years
6 to 7
years
8 to 10
years
11 to 15
years
16 to 20
years
21 years
or more
4%
*
5%
1
18%
3
27%
4
12%
1
9%
1
4%
*
96
94
79
69
88
90
96
U.S.
All Sellers
Yes, and lived in home
11%
Yes, but rented home to others
1
and lived elsewhere
No, sold home when I wanted
87
to sell
* Less than 1 percent
100%
90%
80%
70%
69
79
60%
88
87
96
50%
94
90
96
40%
30%
4
20%
10%
3
27%
1
18%
11%
0
4%
1
5%
All Sellers
3 years or less
4 to 5 years
0%
Yes, and lived in home
6 to 7 years
8 to 10 years
Yes, but rented home to others and lived elsewhere
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
1
12%
1
9%
11 to 15 years
16 to 20 years
0
4%
21 years or more
No, sold home when I wanted to sell
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-23
TENURE IN PREVIOUS HOME
(Percentage Distribution)
Texas
1 year or less
2 to 3 years
4 to 5 years
6 to 7 years
8 to 10 years
11 to 15 years
16 to 20 years
21 years or more
Median
All Types
4%
16
9
9
23
19
9
11
9
U.S.
1 year or less
2 to 3 years
4 to 5 years
6 to 7 years
8 to 10 years
11 to 15 years
16 to 20 years
21 years or more
Median
All Types
3%
10
11
12
15
21
11
16
10
Duplex/ Apartment/
apartment/
condo in
condo in building with
Cabin/
2-4 unit
5 or more
cottage
structure
units
*
10
20
10
30
5
10
15
9
9%
6
10
19
7
29
4
15
8
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
2%
14
18
23
20
10
7
6
7
Detached
singleTownhouse/
family
row house
home
6%
12
20
15
15
15
4
14
7
3%
13
15
13
15
18
15
7
11
Mobile/
manufactured
home
Other
2%
10
10
12
15
22
12
17
10
4%
4
4
*
17
30
13
26
15
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-24
TENURE IN PREVIOUS HOME, BY AGE OF SELLER
(Percentage Distribution)
Texas
All Sellers
1 year or less
2 to 3 years
4 to 5 years
6 to 7 years
8 to 10 years
11 to 15 years
16 to 20 years
21 years or more
Median
4%
16
9
9
23
19
9
11
4
U.S.
1 year or less
2 to 3 years
4 to 5 years
6 to 7 years
8 to 10 years
11 to 15 years
16 to 20 years
21 years or more
Median
All Sellers
18 to 34
years
3%
10
11
12
15
21
11
16
10
4%
25
25
26
17
4
NA
NA
5
AGE OF HOME SELLER
35 to 44
45 to 54
55 to 64 65 to 74
years
years
years
years
2%
9
15
19
27
24
3
1
8
NA= Not applicable
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
4%
9
6
11
14
27
17
11
11
2%
7
9
6
10
24
16
26
14
2%
7
9
7
12
22
12
29
13
75 years
or older
3%
8
6
1
8
23
14
38
17
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-25
MEDIAN SELLER TENURE IN HOME 1985-2016
(Median Years)
1985
1987
1989
1991
Median
5
6
6
6
1993
6
1995
6
1997
7
2000
6
2002
6
2004
6
2005
6
Median Seller Tenure in Home 1985-2016
12
10
10
9
8
9
9
10
9
8
7
6
6
6
6
6
6
7
6
6
6
6
6
6
6
5
4
2
0
1985 1987 1989 1991 1993 1995 1997 2000 2002 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
2006
6
2007
6
2008
6
2009
7
2010
8
2011
9
2012
9
2013
9
2014
10
2015
9
2016
10
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-26
DISTANCE BETWEEN HOME PURCHASED AND HOME RECENTLY SOLD, BY REGION
(Median Miles)
SELLERS WHO SOLD A HOME IN THE:
Texas
23
2014
U.S.
20
Northeast
20
Midwest
20
South
20
DISTANCE BETWEEN HOME PURCHASED AND HOME
RECENTLY SOLD, BY REGION
(Median Miles)
25
23
20
20
20
20
20
18
15
10
5
0
Texas
U.S.
Northeast
Midwest
South
Region of Home Sold
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
West
West
18
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-27
DISTANCE BETWEEN HOME PURCHASED AND HOME RECENTLY SOLD, BY AGE
(Percentage Distribution)
Texas
AGE OF HOME SELLER
5 miles or less
6 to 10 miles
11 to 15 miles
16 to 20 miles
21 to 50 miles
51 to 100 miles
101 to 500 miles
501 to 1,000 miles
1,001 miles or more
Median (miles)
All Sellers
18 to 34
years
35 to 44
years
45 to 54
years
55 to 64
years
65 to 74
years
75 years
or older
18%
15
10
6
15
4
10
6
15
23
30%
23
13
9
18
2
2
2
2
10
31%
10
16
3
24
*
5
3
7
14
29%
19
3
3
14
3
11
5
13
14
19%
16
2
5
19
2
12
9
16
34
23%
3
10
13
3
3
19
3
23
31
20%
60
20
*
*
*
*
*
*
8
AGE OF HOME SELLER
35 to 44 45 to 54
55 to 64
years
years
years
65 to 74
years
75 years
or older
22%
13
8
4
13
3
14
7
16
27
22%
17
4
6
17
5
9
12
9
23
U.S.
5 miles or less
6 to 10 miles
11 to 15 miles
16 to 20 miles
21 to 50 miles
51 to 100 miles
101 to 500 miles
501 to 1,000 miles
1,001 miles or more
Median (miles)
All Sellers
18 to 34
years
26%
15
8
5
13
3
11
8
12
20
26%
17
10
6
17
4
5
8
7
15
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
33%
16
8
5
14
2
8
9
7
13
30%
12
9
6
10
3
12
8
9
15
21%
15
5
6
10
4
12
10
17
25
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-28
METHOD USED TO SELL HOME, BY REGION
(Percentage Distribution)
SELLERS WHO SOLD A HOME IN THE:
Sold home using an agent or broker
Seller used agent/broker only
Seller first tried to sell it themselves, but then used an agent
For-sale-by-owner (FSBO)
Seller sold home without using a real estate agent or broker
First listed with an agent, but then sold home themselves
Sold home to a homebuying company
Other
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Texas
88%
87
1
7
6
1
3
2
U.S. Northeast Midwest
89%
88%
85%
88
87
84
1
1
1
8
8
11
7
8
10
1
*
1
1
1
1
2
3
3
South
89%
88
1
8
7
1
2
1
West
95%
93
2
3
3
*
1
1
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-29
METHOD USED TO SELL HOME, BY SELLER URGENCY
(Percentage Distribution)
Texas
Sold home using an agent or broker
Seller used agent/broker only
Seller first tried to sell it themselves, but then used an agent
For-sale-by-owner (FSBO)
Seller sold home without using a real estate agent or broker
First listed with an agent, but then sold home themselves
Sold home to a homebuying company
Other
SELLER NEEDED TO SELL
All Sellers
88%
87
1
7
6
1
3
2
U.S.
All Sellers
Sold home using an agent or broker
89%
Seller used agent/broker only
88
Seller first tried to sell it themselves, but then used an agent
1
For-sale-by-owner (FSBO)
8
Seller sold home without using a real estate agent or broker
7
First listed with an agent, but then sold home themselves
1
Sold home to a homebuying company
1
Other
2
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Very Somewhat
urgently
urgently
86%
84
2
*
*
*
9
5
Not
urgently
87%
86
1
10
7
3
1
1
87%
85
2
13
13
*
*
*
SELLER NEEDED TO SELL
Very Somewhat
urgently
urgently
88%
85
3
6
5
1
1
3
90%
90
*
7
6
1
1
2
Not
urgently
88%
87
1
10
9
1
1
1
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-30
METHOD OF SALE, BY BUYER AND SELLER RELATIONSHIP
(Percentage Distribution)
Buyer and Seller Relationship
All sellers
Sold home using an agent or broker
Seller used agent/broker only
Seller first tried to sell it themselves, but then used an agent
For-sale-by-owner (FSBO)
Sold home without using a real estate agent or broker
First listed with an agent, but then sold home themselves
Other
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Seller Knew
Buyer
8%
4
4
21
46
48
35
33
Seller did not
Know Buyer
92%
96
96
79
54
52
65
67
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-31
METHOD USED TO SELL HOME, 2001-2016
(Percentage Distribution)
Texas
Sold home using an agent or broker
For-sale-by-owner (FSBO)
Sold it to a home buying company
Other
2016
88%
7
3
2
U.S.
Sold home using an agent or broker
For-sale-by-owner (FSBO)
Sold to home buying company
Other
100%
90%
7
1
3
1
2001
79%
13
1
7
2003
83%
14
1
3
2
1
3
1
2004
82%
14
1
3
2005
85%
13
1
2
2
1
3
1
2006
84%
12
1
3
2
1
2007
85%
12
1
2
2008
84%
13
1
2
3
1
13
12
12
13
11
82%
85%
84%
85%
84%
85%
2004
2005
2006
2007
2008
2009
14
14
83%
2003
2009
85%
11
1
3
3
1
2010
88%
9
1
3
2011
87%
9
1
3
3
1
2
1
2012
88%
9
1
2
2
1
2013
88%
9
1
2
2014
88%
9
1
2
2015
89%
8
1
2
2
1
2
1
2
1
8
9
9
9
9
9
8
88%
87%
88%
88%
88%
89%
89%
2010
2011
2012
2013
2014
2015
2016
13
80%
70%
60%
50%
40%
79%
30%
20%
10%
0%
2001
Sold home using an agent or broker
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
For-sale-by-owner (FSBO)
Sold to home buying company
Other
2016
89%
8
1
2
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-32
SALES PRICE COMPARED WITH LISTING PRICE, BY REGION
(Percentage Distribution of Sales Price as a Percent of List Price)
SELLERS WHO SOLD A HOME IN THE
Less than 90%
90% to 94%
95% to 99%
100%
101% to 110%
More than 110%
Median (sales price as a
percent of listing price)
Texas
9%
12
31
27
14
7
U.S.
10%
14
37
26
10
3
Northeast
15%
20
34
23
7
2
Midwest
12%
15
39
25
8
1
South
8%
17
37
25
11
3
West
7%
7
37
30
13
6
99%
98%
97%
97%
98%
99%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-33
SALES PRICE COMPARED WITH LISTING PRICE, BY SELLER URGENCY
(Percentage Distribution of Sales Price as a Percent of Listing Price)
Texas
SELLER NEEDED TO SELL
Less than 90%
90% to 94%
95% to 99%
100%
101% to 110%
More than 110%
All Sellers
9%
12
31
27
14
7
Very
urgently
Somewhat
urgently
Not
urgently
14%
16
30
23
12
5
10%
7
35
26
13
7
10%
14
22
29
16
9
* Less than 1 percent
U.S.
Less than 90%
90% to 94%
95% to 99%
100%
101% to 110%
More than 110%
Median (sales price as a
percent of listing price)
All Sellers
10%
14
37
26
10
3
98%
SELLER NEEDED TO SELL
Very Somewhat
Not
urgently
urgently
urgently
15%
16
32
22
11
3
10%
13
38
24
12
3
6%
15
38
29
8
4
98%
98%
98%
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-34
NUMBER OF WEEKS RECENTLY SOLD HOME WAS ON THE MARKET, BY REGION
(Percentage Distribution)
SELLERS WHO SOLD A HOME IN THE
Less than 1 week
1 to 2 weeks
3 to 4 weeks
5 to 6 weeks
7 to 8 weeks
9 to 10 weeks
11 to 12 weeks
13 to 16 weeks
17 to 24 weeks
25 to 36 weeks
37 to 52 weeks
53 or more weeks
Median weeks
Texas
8%
36
18
7
3
4
7
3
7
1
2
3
4
U.S.
7%
34
13
7
7
4
7
5
7
4
4
2
4
Northeast
5%
29
11
7
8
4
5
7
11
6
6
4
6
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Midwest
7%
36
12
5
6
4
7
7
6
4
3
2
4
South
7%
33
14
7
6
3
9
4
7
3
5
3
4
West
7%
38
12
9
8
4
6
3
5
3
4
1
3
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-35
SALES PRICE COMPARED WITH LISTING PRICE, BY NUMBER OF WEEKS HOME WAS ON THE MARKET
(Percentage Distribution of Sales Price as a Percent of Listing Price)
Texas
SELLERS WHOSE HOME WAS ON THE MARKET FOR
Less than 90%
90% to 94%
95% to 99%
100%
101% to 110%
More than 110%
All Sellers
9%
12
31
27
14
7
Less than
1 week
1 to 2
weeks
3 to 4
weeks
5 to 8
weeks
9 to 16
weeks
17 or
more
weeks
*
8
15
31
23
23
3%
3
26
36
22
9
10%
10
42
32
6
*
6%
6
35
35
12
6
22%
22
35
9
4
9
31%
27
23
8
4
8
* Less than 1 percent
U.S.
SELLERS WHOSE HOME WAS ON THE MARKET FOR
Less than 90%
90% to 94%
95% to 99%
100%
101% to 110%
More than 110%
Median (sales price
as a percent of listing
price)
Less than
1 week
All Sellers
10%
3%
14
7
37
8
26
54
10
20
3
9
98%
100%
1 to 2
weeks
3 to 4
weeks
5 to 8
weeks
9 to 16
weeks
17 or
more
weeks
3%
4
31
40
19
4
100%
8%
9
51
23
6
2
98%
6%
18
46
22
7
2
98%
14%
23
47
11
3
2
96%
26%
32
32
6
1
3
93%
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-36
NUMBER OF TIMES ASKING PRICE WAS REDUCED, BY NUMBER OF WEEKS HOME WAS ON THE MARKET
(Percentage Distribution)
Texas
SELLERS WHOSE HOME WAS ON THE MARKET FOR
Less than
1 week
All Sellers
None, did not reduce
the asking price
One
Two
Three
Four or more
1 to 2
weeks
3 to 4
weeks
5 to 8
weeks
9 to 16
weeks
17 or
more
weeks
62%
93%
84%
66%
61%
22%
20%
20
12
3
2
*
7
*
*
12
3
*
*
31
3
*
*
33
6
*
*
35
35
4
4
12
36
20
12
U.S.
SELLERS WHOSE HOME WAS ON THE MARKET FOR
Less than
1 week
All Sellers
None, did not reduce
the asking price
One
Two
Three
Four or more
1 to 2
weeks
3 to 4
weeks
5 to 8
weeks
9 to 16
weeks
17 or
more
weeks
59%
94%
87%
63%
47%
33%
14%
22
10
6
3
4
1
1
*
11
1
0
*
28
6
3
*
34
11
4
4
35
19
9
4
25
25
23
1
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-37
INCENTIVES OFFERED TO ATTRACT BUYERS, BY REGION
(Percent of Respondents)
SELLERS WHO SOLD A HOME IN THE
None
Home warranty policies
Assistance with closing costs
Credit toward remodeling or repairs
Other incentives, such as a car, flat screen TV, etc.
Assistance with condo association fees
Other
Texas
56%
28
14
7
9
*
3
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
U.S.
64%
21
16
6
5
*
3
Northeast
72%
8
14
7
4
*
3
Midwest
60%
26
16
5
4
*
3
South
59%
25
18
6
4
1
3
West
70%
16
13
5
6
*
4
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-38
INCENTIVES OFFERED TO ATTRACT BUYERS, BY NUMBER OF WEEKS HOME WAS ON THE MARKET
(Percent of Respondents)
Texas
SELLERS WHOSE HOME WAS ON THE MARKET FOR
None
Assistance with closing costs
Home warranty policies
Credit toward remodeling or repairs
Other incentives, such as a car, flat screen TV, etc.
Assistance with condo association fees
Other
All
Sellers
56%
14
28
7
9
*
3
Less than 1
week
1 to 2
weeks
71%
*
21
7
*
*
7
67%
14
24
2
5
*
*
3 to 4 5 to 8
weeks weeks
58%
13
23
16
6
*
*
53%
5
42
*
16
*
*
9 to 16
weeks
17 or more
weeks
35%
22
26
13
17
*
9
50%
23
27
4
12
*
8
U.S.
SELLERS WHOSE HOME WAS ON THE MARKET FOR
None
Home warranty policies
Assistance with closing costs
Credit toward remodeling or repairs
Other incentives, such as a car, flat screen TV, etc.
Assistance with condo association fees
Other
* Less than 1 percent
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
All
Sellers
64%
21
16
6
5
*
3
Less than 1
week
1 to 2
weeks
83%
11
6
3
1
*
1
72%
18
10
3
2
*
2
3 to 4 5 to 8
weeks weeks
60%
25
17
8
8
1
3
58%
22
21
4
6
1
4
9 to 16
weeks
17 or more
weeks
55%
24
18
10
5
1
3
54%
24
25
7
6
1
7
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-39
EQUITY EARNED IN HOME RECENTLY SOLD, BY TENURE IN HOME
(Median)
TENURE IN HOME
1 year or less
2 to 3 years
4 to 5 years
6 to 7 years
8 to 10 years
11 to 15 years
16 to 20 years
21 years or more
Median
U.S.
Dollar value
$11,300
$30,000
$45,000
$31,200
$5,000
$30,500
$108,700
$127,600
$43,100
Percent
8%
14%
21%
18%
3%
16%
64%
124%
24%
Median
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
Texas
Dollar value
$43,250
Percent
24%
HOME SELLERS AND THEIR SELLING EXPERIENCE
Exhibit 6-40
SATISFACTION WITH THE SELLING PROCESS
(Percentage Distribution)
Very Satisfied
Somewhat Satisfied
Somewhat Dissatisfied
Very Dissatisfied
Texas
62%
26
5
6
U.S.
61%
27
8
5
Satisfaction with Selling Process
(Percentage Distribution)
Somewhat
Dissatisfied, 5%
Very Dissatisfied,
6%
Very Satisfied,
63%
Somewhat
Satisfied, 26%
Satisfaction with Selling Process
(Percentage Distribution)
U.S.
Somewhat
Dissatisfied, 8
Very Dissatisfied,
5
Very Satisfied,
61%
Somewhat
Satisfied, 27
The 2016 National Association of Realtors® Profile of Home Buyers and Sellers
HOME SELLING AND REAL ESTATE PROFESSIONALS
Exhibit 7-1
Exhibit 7-2
Exhibit 7-3
Exhibit 7-4
Exhibit 7-5
Exhibit 7-6
Exhibit 7-7
Exhibit 7-8
Exhibit 7-9
Exhibit 7-10
Exhibit 7-11
Exhibit 7-12
Exhibit 7-13
METHOD USED TO FIND REAL ESTATE AGENT, BY FIRST TIME OR REPEAT SELLER
METHOD USED TO FIND REAL ESTATE AGENT, BY MILES MOVED
NUMBER OF AGENTS CONTACTED BEFORE SELECTING ONE TO ASSIST WITH SALE OF
HOME
SELLER USED THE SAME REAL ESTATE AGENT FOR THEIR HOME PURCHASE, BY MILES
MOVED
HOME LISTED ON MULTIPLE LISTING SERVICE
LEVEL OF SERVICE PROVIDED BY THE REAL ESTATE AGENT
WHAT SELLERS MOST WANT FROM REAL ESTATE AGENTS, BY LEVEL OF SERVICE
PROVIDED BY THE AGENT
MOST IMPORTANT FACTOR IN CHOOSING A REAL ESTATE AGENT TO SELL HOME, BY LEVEL
OF SERVICE PROVIDED BY THE AGENT
METHODS REAL ESTATE AGENT USED TO MARKET HOME
HOW REAL ESTATE AGENT WAS COMPENSATED
NEGOTIATING THE COMMISSION RATE OR FEE WITH THE REAL ESTATE AGENT
WOULD SELLER USE REAL ESTATE AGENT AGAIN OR RECOMMEND TO OTHERS
HOW MANY TIMES SELLER RECOMMENDED TYPICAL AGENT
The 2016 Profile of Home Buyers and Sellers
HOME SELLING AND REAL ESTATE PROFESSIONALS
Exhibit 7-1
METHOD USED TO FIND REAL ESTATE AGENT, BY FIRST TIME OR REPEAT SELLER
(Percentage Distribution)
Texas
First-time
All sellers
Seller
Referred by (or is) a friend, neighbor or relative
42%
42%
Used agent previously to buy or sell a home
25
25
Visited an open house and met agent
*
*
Internet website (without a specific reference)
2
4
Personal contact by agent (telephone, email, etc.)
6
8
Referred by another real estate or broker
5
4
Saw contact information on For Sale/Open House sign
1
2
Referred through employer or relocation company
4
4
Direct mail (newsletter, flyer, postcard, etc.)
1
2
Walked into or called office and agent was on duty
1
2
Newspaper, Yellow pages or home book ad
1
*
Advertising specialty (calendar, magnet, etc.)
*
*
Crowdsourcing through social media/knew the person through social1media 2
Saw the person's social media page without a connection
*
*
Other
9
8
Repeat
Seller
42%
27
*
1
4
6
1
4
1
1
1
*
*
*
10
U.S.
Referred by (or is) a friend, neighbor or relative
Used agent previously to buy or sell a home
Personal contact by agent (telephone, email, etc.)
Referred by another real estate or broker
Internet website (without a specific reference)
Visited an open house and met agent
Saw contact information on For Sale/Open House sign
Referred through employer or relocation company
Direct mail (newsletter, flyer, postcard, etc.)
Walked into or called office and agent was on duty
Newspaper, Yellow pages or home book ad
Advertising specialty (calendar, magnet, etc.)
Crowdsourcing through social media/knew the person
through social media
Saw the person's social media page without a
connection
Other
* Less than 1 percent
The 2016 Profile of Home Buyers and Sellers
All sellers
39%
25
4
4
4
4
First-time
Seller
46%
22
5
4
4
3
Repeat
Seller
35%
28
4
5
4
4
2
2
2
1
1
*
2
2
1
2
1
*
2
2
3
1
1
*
*
1
*
*
10
*
7
*
11
HOME SELLING AND REAL ESTATE PROFESSIONALS
Exhibit 7-2
METHOD USED TO FIND REAL ESTATE AGENT, BY MILES MOVED
(Percentage Distribution)
Texas
10 miles
or less
49%
28
*
2
7
9
*
*
*
2
*
*
*
*
2
11 to 20
miles
33%
38
*
*
*
*
*
5
*
*
*
*
*
*
24
21 to 50 51 to 100
101 to
miles
miles 500 miles
35%
40%
10%
30
*
30
*
*
*
5
*
*
5
20
10
*
20
*
10
*
*
*
20
20
*
*
*
*
*
*
*
*
*
*
*
30
5
*
18
*
*
*
10
*
*
501or
more
53%
17
*
3
*
7
*
3
7
3
3
*
100
*
3
All sellers
39%
25
4
4
4
4
2
2
2
1
1
10 miles
or less
41%
27
4
3
4
6
3
*
1
2
1
11 to 20
miles
40%
31
6
4
3
1
*
1
3
1
*
21 to 50 51 to 100
101 to
miles
miles 500 miles
45%
40%
30%
23
20
27
3
6
5
5
3
8
2
6
5
3
5
4
2
*
1
1
3
8
2
2
3
2
2
1
*
2
2
501or
more
38%
21
4
5
4
1
2
6
4
2
2
*
*
*
*
*
*
*
*
*
10
*
*
9
*
*
10
1
1
11
*
*
12
2
*
7
*
1
10
All sellers
Referred by (or is) a friend, neighbor or relative
42%
Used agent previously to buy or sell a home
25
Visited an open house and met agent
*
Internet website (without a specific reference)
2
Personal contact by agent (telephone, email, etc.)
6
Referred by another real estate or broker
5
Saw contact information on For Sale/Open House sign
1
Referred through employer or relocation company
4
Direct mail (newsletter, flyer, postcard, etc.)
1
Walked into or called office and agent was on duty
1
Newspaper, Yellow pages or home book ad
1
Advertising specialty (calendar, magnet, etc.)
*
Crowdsourcing through social media/knew the person through social media
1
Saw the person's social media page without a connection
*
Other
9
U.S.
Referred by (or is) a friend, neighbor or relative
Used agent previously to buy or sell a home
Personal contact by agent (telephone, email, etc.)
Referred by another real estate or broker
Internet website (without a specific reference
Visited an open house and met agent
Saw contact information on For Sale/Open House sign
Referred through employer or relocation company
Direct mail (newsletter, flyer, postcard, etc.)
Walked into or called office and agent was on duty
Newspaper, Yellow pages or home book ad
Advertising specialty (calendar, magnet, etc.)
Crowdsourcing through social media/knew the person through social media
Saw the person's social media page without a connection
Other
The 2016 Profile of Home Buyers and Sellers
HOME SELLING AND REAL ESTATE PROFESSIONALS
Exhibit 7-3
NUMBER OF AGENTS CONTACTED BEFORE SELECTING ONE TO ASSIST WITH SALE OF HOME
(Percentage Distribution)
Texas
One
Two
Three
Four
Five or more
79%
13%
6%
2%
1%
* Less than 1 percent
NUMBER OF AGENTS CONTACTED BEFORE SELECTING
ONE TO ASSIST WITH SALE OF HOME
(Percentage Distribution)
Texas
90%
79%
80%
70%
60%
50%
40%
30%
20%
13%
6%
10%
2%
1%
Four
Five or more
0%
One
U.S.
One
Two
Three
Four
Five or more
Two
Three
NUMBER OF AGENTS CONTACTED BEFORE SELECTING
ONE TO ASSIST WITH SALE OF HOME
72%
16
8
2
2
(Percentage Distribution)
U.S
80%
72%
70%
60%
50%
40%
30%
16%
20%
8%
10%
2%
2%
Four
Five or more
0%
One
The 2016 Profile of Home Buyers and Sellers
Two
Three
HOME SELLING AND REAL ESTATE PROFESSIONALS
Exhibit 7-4
SELLER USED THE SAME REAL ESTATE AGENT FOR THEIR HOME PURCHASE, BY MILES MOVED
(Percentage Distribution Among Sellers Who Used an Agent to Purchase a Home)
Texas
51%
49%
10 miles
or less
81%
19%
11 to 20
miles
87%
13%
21 to 50 51 to 100
101 to
miles
miles 500 miles
80% *
*
20%
100%
100%
501or
more
4%
96%
All
sellers
55%
45%
10 miles
or less
86%
14
11 to 20
miles
79%
21
21 to 50 51 to 100
101 to
miles
miles 500 miles
66%
25%
3%
34
75
97
501or
more
3%
97
Yes
No
U.S.
Used the same agent
Used a different agent
100%
14
90%
80%
21
34
45%
70%
75
60%
50%
86%
40%
30%
97
97
3%
3%
79%
66%
55%
20%
25%
10%
0%
All sellers
10 miles or less
11 to 20 miles
21 to 50 miles
Used the same agent
The 2016 Profile of Home Buyers and Sellers
51 to 100 miles
Used a different agent
101 to 500 miles
501or more
HOME SELLING AND REAL ESTATE PROFESSIONALS
Exhibit 7-5
HOME LISTED ON MULTIPLE LISTING SERVICE
(Percentage Distribution)
Texas
HOME LISTED ON MULTIPLE LISTING SERVICE
Yes
No
Don't know
(Percentage Distribution)
87%
5%
8%
Texas
Don't know, 8%
No, 5%
Yes, 87%
U.S.
Yes
No
Don't know
HOME LISTED ON MULTIPLE LISTING SERVICE
(Percentage Distribution)
92%
3%
6%
Don't know, 6%
U.S.
No, 3%
Yes, 92%
The 2016 Profile of Home Buyers and Sellers
HOME SELLING AND REAL ESTATE PROFESSIONALS
Exhibit 7-6
LEVEL OF SERVICE PROVIDED BY THE REAL ESTATE AGENT
(Percentage Distribution)
Texas
A broad range of
services and
management of
most aspects of the
home sale
A limited set of
services as
requested by the
seller
The agent listed the
home on the MLS
and performed few if
any additional
services
LEVEL OF SERVICE PROVIDED BY THE REAL ESTATE
AGENT
81%
8%
11%
(Percentage Distribution)
A limited set of
services as
requested by the
seller, 8%
A broad range of
services and
management of
most aspects of
the home sale,
81%
LEVEL OF SERVICE PROVIDED BY THE REAL ESTATE
AGENT
U.S.
A broad range of
services and
management of
most aspects of the
home sale
Texas
The agent listed
the home on the
MLS and
performed few if
any additional
Texas
services, 11%
(Percentage Distribution)
The agent listed
the home on the
MLS and
U.S.
performed few if
any additional
services, 9%
83%
A limited set of
services as
requested by the
seller
8%
The agent listed the
home on the MLS
and performed few if
any additional
services
9%
A broad range of
services and
management of
most aspects of
the home sale,
83%
A limited set of
services as
requested by the
seller, 8%
LEVEL OF SERVICE PROVIDED BY THE REAL ESTATE AGENT
(Percentage Distribution)
A broad range of
services and
management of
most aspects of the
home sale
A limited set of
services as
requested by the
seller
The agent listed the
home on the MLS
and performed few if
any additional
services
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
83%
81%
81%
80%
80%
80%
80%
81%
79%
79%
83%
9%
9%
9%
9%
8%
10%
8%
9%
9%
9%
8%
8%
9%
9%
11%
11%
10%
12%
10%
12%
12%
9%
The 2016 Profile of Home Buyers and Sellers
HOME SELLING AND REAL ESTATE PROFESSIONALS
Exhibit 7-7
WHAT SELLERS MOST WANT FROM REAL ESTATE AGENTS, BY LEVEL OF SERVICE PROVIDED BY THE AGENT
(Percentage Distribution)
All sellers
22%
26
9
21
14
2
2
1
2
LEVEL OF SERVICE SOUGHT FROM THE AGENT BY THE SELLER
A broad range of
The agent listed the
services and
A limited set of
home on the MLS
management of
services as and performed few if
most aspects of the requested by the
any additional
home sale
seller
services
12%
18%
23%
23
45
38
12
9
15
21
9
15
14
9
8
9
*
*
6
9
*
2
*
*
1
*
*
All sellers
23%
20
19
14
14
4
4
1
1
1
A broad range of
The agent listed the
services and
A limited set of
home on the MLS
management of
services as and performed few if
most aspects of the requested by the
any additional
home sale
seller
services
23%
17%
25%
21
21
14
19
16
21
12
21
24
15
11
11
4
7
1
4
5
1
1
1
1
1
*
1
1
*
1
Texas
Help price home competitively
Help sell the home within specific timeframe
Help find a buyer for home
Help seller market home to potential buyers
Help seller find ways to fix up home to sell it for more
Help with negotiation and dealing with buyers
Help with paperwork/inspections/preparing for settlement
Help seller see homes available to purchase
Other
* Less than 1 percent
LEVEL OF SERVICE SOUGHT FROM THE AGENT BY THE SELLER
U.S.
Help seller market home to potential buyers
Help sell the home within specific timeframe
Help price home competitively
Help find a buyer for home
Help seller find ways to fix up home to sell it for more
Help with negotiation and dealing with buyers
Help with paperwork/inspections/preparing for settlement
Help seller see homes available to purchase
Help create and post videos to provide tour of my home
Other
* Less than 1 percent
The 2016 Profile of Home Buyers and Sellers
HOME SELLING AND REAL ESTATE PROFESSIONALS
Exhibit 7-8
MOST IMPORTANT FACTOR IN CHOOSING A REAL ESTATE AGENT TO SELL HOME, BY LEVEL OF SERVICE PROVIDED BY THE AGENT
(Percentage Distribution)
Texas
LEVEL OF SERVICE SOUGHT FROM THE AGENT BY THE SELLER
A broad range of
services and
A limited set of
The agent listed the
management of
services as home on the MLS and
most aspects of the requested by the performed few if any
All sellers
home sale
seller
additional services
Reputation of agent
24%
28%
*
8%
Agent is honest and trustworthy
24
21
18
54
Agent is friend or family member
19
21
18
8
Agent’s knowledge of the neighborhood
15
13
36
8
Agent’s association with a particular firm
2
2
9
*
Agent has caring personality/good listener
5
7
*
*
Agent's commission
1
1
*
*
Agent seems 100% accessible because of use of technology like tablet2 or smartphone
2
*
*
Professional designations held by agent
2
2
*
8
Other
6
4
18
15
U.S.
Reputation of agent
Agent is honest and trustworthy
Agent is friend or family member
Agent’s knowledge of the neighborhood
Agent has caring personality/good listener
Agent’s association with a particular firm
Agent's commission
Agent seems 100% accessible because of use of
technology like tablet or smartphone
Professional designations held by agent
Other
The 2016 Profile of Home Buyers and Sellers
LEVEL OF SERVICE SOUGHT FROM THE AGENT BY THE SELLER
All sellers
31%
21
14
14
5
4
4
3
1
5
A broad range of
services and
A limited set of
The agent listed the
management of
services as home on the MLS and
most aspects of the requested by the performed few if any
home sale
seller
additional services
32%
25%
24%
22
12
19
14
16
16
12
24
15
5
1
6
4
5
3
4
7
5
3
1
4
2
1
7
5
1
6
HOME SELLING AND REAL ESTATE PROFESSIONALS
Exhibit 7-9
METHODS REAL ESTATE AGENT USED TO MARKET HOME
(Percent of Respondents Among Sellers Who Used an Agent)
Texas
All Homes
85%
72
43
42
31
48
36
5
8
5
*
*
Multiple Listing (MLS) website
Yard sign
Open house
Real estate agent website
Real estate company website
Realtor.com
Third party aggregators
Print newspaper advertisement
Direct mail (flyers, postcards, etc.)
Real estate magazine
Newspaper website
Video
Other Web sites with real estate listings (e.g.
Google, Yahoo)
Real estate magazine website
Social networking websites (e.g. Facebook,Twitter,
etc.)
Online Classified Ads
Video hosting Web sites (e.g. Youtube, etc.)
Television
Other
5
3
14
6
8
1
*
* Less than 1 percent
U.S.
Multiple Listing (MLS) website
Yard sign
Realtor.com
Real estate agent website
Open house
Real estate company website
Third party aggregators
Print newspaper advertisement
Online Classified Ads
Direct mail (flyers, postcards, etc.)
Video
Other Web sites with real estate listings
Real estate magazine website
Real estate magazine
The 2016 Profile of Home Buyers and Sellers
All Homes
89%
70
52
50
47
45
42
11
11
10
8
7
7
6
HOME SELLING AND REAL ESTATE PROFESSIONALS
Exhibit 7-10
HOW REAL ESTATE AGENT WAS COMPENSATED
(Percentage Distribution)
Texas
Paid by seller
Percent of sales price
Flat fee
Per task fee
Other
Don't Know
Paid by buyer and seller
Paid by buyer only
Other
Don't Know
70%
91
2
*
2
6
14
8
3
5
U.S.
Paid by seller
Percent of sales price
Flat fee
Per task fee
Other
Don't Know
Paid by buyer and seller
Paid by buyer only
Other
Don't Know
77%
72
2
*
*
2
12
6
3
3
* Less than 1 percent
The 2016 Profile of Home Buyers and Sellers
HOME SELLING AND REAL ESTATE PROFESSIONALS
Exhibit 7-11
NEGOTIATING THE COMMISSION RATE OR FEE WITH THE REAL ESTATE AGENT
(Percentage Distribution)
Texas
Real estate agent initiated discussion of
compensation
Client brought up the topic and the real estate
agent was able and willing to negotiate their
commission or fee
Client brought up the topic and the real estate
agent was unwilling or unable to negotiate
their commission or fee
Client did know commissions and fees could
be negotiated but did not bring up the topic
Client did not know commissions and fees
could be negotiated
42%
26
4
14
15
U.S.
Real estate agent initiated discussion of
compensation
Client brought up the topic and the real estate
agent was able and willing to negotiate their
commission or fee
Client brought up the topic and the real estate
agent was unwilling or unable to negotiate
their commission or fee
Client did know commissions and fees could
be negotiated but did not bring up the topic
Client did not know commissions and fees
could be negotiated
48%
22
6
11
14
Client did not know
commissions and fees
could be negotiated,
Client did know 14
commissions and fees
could be negotiated
but did not bring up
the topic, 11
Client brought up the
topic and the real
estate agent was
unwilling or unable to
negotiate their
commission or fee, 6
Client brought up the
topic and the real
estate agent was able
and willing to
negotiate their
commission or fee, 22
The 2016 Profile of Home Buyers and Sellers
Real estate agent
initiated discussion of
compensation, 48%
HOME SELLING AND REAL ESTATE PROFESSIONALS
Exhibit 7-12
WOULD SELLER USE REAL ESTATE AGENT AGAIN OR RECOMMEND TO OTHERS
(Percentage Distribution)
Texas
Definitely
Probably
Probably Not
Definitely Not
Don't Know/
Not Sure
All 10 miles or
sellers
less
73%
74
10%
5
11%
14
5%
5
2%
2
11 to 20
miles
76
14
*
10
*
21 to 50 51 to 100
101 to
miles
miles 500 miles
75
80
70
15
*
*
10
20
20
*
*
10
*
*
*
501or
more
63%
17%
10%
7%
3%
All 10 miles or
sellers
less
70%
75%
15
13
7
5
6
5
11 to 20
miles
71%
12
7
8
21 to 50 51 to 100
101 to
miles
miles 500 miles
64%
63%
68%
20
18
17
6
15
9
8
5
7
501or
more
65%
17
10
6
U.S.
Definitely
Probably
Probably Not
Definitely Not
Don't Know/
Not Sure
1
1
The 2016 Profile of Home Buyers and Sellers
2
2
*
1
2
HOME SELLING AND REAL ESTATE PROFESSIONALS
Exhibit 7-13
HOW MANY TIMES SELLER RECOMMENDED TYPICAL AGENT
(Percentage distribution)
Texas
All Sellers
None
One time
Two times
Three times
Four or more times
32%
16
18
14
22
Times recommended
since buying (median)
1
U.S.
All Sellers
None
One time
Two times
Three times
Four or more times
36%
13
18
11
22
Times recommended
since buying (median)
The 2016 Profile of Home Buyers and Sellers
2