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Interesting Details from the 2023 Porfile of Home Buyers and Sellers

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GILLETTE, Wyo. - Rezul -- 1.  First-time buyers increased to 32% of the national market in 2023.
2.  In 2023, the median distance between homes purchased was 20 miles, down from 50 miles.
3.  So far in 2023, 59% of Buyers reported that finding the right home was the most difficult task for buyers.
4.  23% of first-time home buyers in 2023 used a gift or loan from friends or family for the down payment or closing costs.
5.  Sellers typically lived in their home for 10 years, before selling.
6.  In 2021, the number of complaints to NAR for wire fraud exceeded 2,300 complaints, exceeding $213 million.
7.  In a 2022 survey conducted by Zillow, Opendoor, and Houzz, the best colors to paint your front door were as follows:  1.  Black yielding a $6,449 more profit,  2.  Slate Blue yielding a $1,537 more profit, 3.  Forest Green, 4.  Navy Blue, 5.  Mid-tone Brown, 6.  White, 7.  Mid-tone Gray.  So yes, the first 7 seconds of a showing can impact the home's selling price!

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8.  In October 2023, with interest rates for Home Mortgages at 7% plus or minus, the National Median Sale Price for existing homes is $391,800.
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Jason Walker

Source: NAR, Realsimple.com, betterhomeowners.com
Filed Under: Real Estate

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