Overview of the Real Estate Market
NAR Membership Statistics
Members to date: 1,564,547 as of October 2021
Number of local associations: 1,108 as of 2020
source : monthly Membership Report and NAR Membership Statistics, 1908-present
Reading: Quick Real Estate Statistics
- 68% percent of REALTORS® are licensed as sales agents, 20% hold broker licenses, and 13% hold broker associate licenses.
- The typical REALTOR® is a 54-year-old white female who attended college and is a homeowner.
- 65% of all REALTORS® are female, and the median age of all REALTORS® is 52.
- Real-estate experience of all REALTORS® (median): 8 years
- Median tenure at present firm (all REALTORS®): 5 years
- Most REALTORS® worked 35 hours per week in 2020.
- The median gross income of REALTORS® was $43,330 in 2020, an decrease from $49,700 in 2019.
- Median number of transaction sides in 2020:
- Residential sides for all REALTORS®: 10
- Residential sides for residential specialist broker/broker associates only: 13
- Residential sides for residential specialists only: 9
- Residential sides for commercial specialists only: 5
- Commercial sides for commercial specialists only: 4
- Formal education of REALTORS®:
- Some college: 29%
- Bachelor’s degree: 32%
- Graduate degree and above: 13%
- Associate degree: 13%
- Some graduate school: 6%
- High-school graduate: 8%
- REALTOR® affiliation with firms:
- Independent contractor: 88%
- Employee: 5%
- Other: 7%
generator : 2021 National Association of REALTORS® Member Profile
Statistics on REALTORS® and Technology
- REALTORS® most often prefer to communicate with their clients through text messaging, at 93%. Ninety percent preferred to communicate via telephone, and 89% through e-mail.
- 70% of broker/broker associates and 69% of sales agents have a website.
- 81% of members have their own listings on their website, 69% have information about buying and selling, and 66% have a link to their firm’s website.
- 74% of REALTORS® use Facebook and 56% use LinkedIn for professional purposes.
- 20% of all members get 1-5% of their business from social media, and 10% get 6-10%.
- Of the members that use drones in their real estate business of office, 36% hire a professional, 14% have someone in their office that uses drones, and 6% personally use drones. 21% do not use drones.
source : 2021 Member Profile
Home Buyer Statistics
- First-Time vs. Repeat Buyers:
- First-time buyers: 34%
- Median age of first-time buyers: 33
- Median age of repeat buyers: 56
- Median household income of first-time buyers: $86,500
- Median household income of repeat buyers: $112,500
- The typical home purchased was 1,900 square feet in size, was built in 1993, and had three bedrooms and two bathrooms.
- Among those who financed their home purchase, buyers typically financed 87% of the home price.
- 87% of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69% in 2001.
- Buyers who would use their agent again or recommend their agent to others: 75%
- Where buyers found the home they purchased:
- Internet: 51%
- Real estate agent: 28%
- Yard sign/open house sign: 4%
- Friend, relative, or neighbor: 6%
- Home builder or their agent: 6%
- Directly from sellers/Knew the sellers: 3%
- Print newspaper advertisement: 1%
reservoir : 2021 National Association of REALTORS® Profile of Home Buyers and Sellers
Home Seller Statistics
- The typical home seller in 2020 was 56 years of age, had a median household income of $112,300, and lived in their home for 8 years.
- 90% of sellers were assisted by a real estate agent when selling their home.
- Recent sellers typically sold their homes for 100% of the listing price, and 35% reported reducing the asking price at least once.
- The typical home sold was on the market for 1 week.
- 68% of sellers who used a real estate agent found their agents through a referral by friends or family, and 53% used the agent they previously worked with to buy or sell a home.
- Sellers who definitely would use same agent again: 90%
source : 2021 National Association of REALTORS® Profile of Home Buyers and Sellers
For Sale By Owner (FSBO) Statistics
- FSBOs accounted for 7% of home sales in 2020. The typical FSBO home sold for $260,000 compared to $318,000 for agent-assisted home sales.
- FSBO methods used to market home:
- None: Did not actively market home: 34%
- Yard sign: 26%
- Friends, relatives, or neighbors: 23%
- Multiple Listing Service (MLS) website: 18%
- Social networking websites (e.g. Facebook, Twitter, etc.): 14%
- Open house: 14%
- Online classified advertisements: 5%
- Video: 4%
- Virtual Tours: 3%
- For-sale-by-owner websites: 2%
- Print newspaper advertisement: 1%
- Direct mail (flyers, postcards, etc.): 1%
- Television: 1%
- Most difficult tasks for FSBO sellers:
- Preparing/fixing up home for sale: 17%
- Getting the right price: 14%
- Understanding and performing paperwork: 11%
- Selling within the planned length of time: 5%
- Having enough time to devote to all aspects of the sale: 5%
- Attracting potential buyers: 3%
- Helping buyers obtain financing: 3%
informant : 2021 National Association of REALTORS® Profile of Home Buyers and Sellers
Other Recommended Sources for Data on Real Estate:
The Economists ‘ Outlook blog provides insight into NAR Research ‘s reports and analyzes how assorted economic indicators affect the real estate market .
NAR ‘s State-by-State Economic Impact of Real Estate Activity examines real number estate markets in each state and analyzes their contribution to the economy.
The Research & Statistics section of nar.realtor includes links to holocene surveys and reports available from NAR .
U.S. Housing Market Conditions is published quarterly by the U.S. Department of Housing & Urban Development, providing numerous housing market statistics from the federal government and other organizations .
The State of the Nation ‘s Housing, from the Joint Center for Housing Studies of Harvard University, is an annual revue of caparison markets in the U.S., including data on demographic trends and economic conditions .