Here are some interesting facts recently published by the National Association of Realtors concerning Texas home buyers and sellers: 

  • Characteristics of Home Buyers in Texas
  • 33% were first-time buyers, compared to 38% nationally, which is still at a suppressed level of the historical norm of 40%
  • The typical buyer was 43 years old, typical first-time buyer was 31 and the typical repeat buyer was 50
  • The 2012 median household income of buyers was $91,700. The median income was $67,800 for first-time buyers and $107,100 for repeat buyers
  • 71% of recent home buyers were married couples. Nationally, 66% were married couples - the highest share since 2001
  • Characteristics of Homes Purchased
  • Nationally, new home purchases continued to drag at 16% of all recent home purchases. In Texas this share is 30%
  • The typical home purchased was 2200 square feet, built in 2003 and had 3 bedrooms and two baths
  • 89% purchased a detached, single-family home
  • The Home Search Process
  • Real estate agents were viewed as a useful information source by 97% of buyers who used an agent while searching for a home
  • The typical home buyer searched for 9 weeks and viewed 10 homes
  • 93% of buyers were satisfied with the home buying process
  • Financing the Home Purchase
  • 95% of first-time buyers financed their home purchase, 88% of repeat buyers did so
  • More than half of the home buyers reported they have made some sacrifices such as reducing spending on luxury items, entertainment or clothing
  • 11% of buyers cited saving for a downpayment was difficult. 39% reported student loans, 42% credit card debt and 33% car loans as getting in the way
  • Home Sellers and Their Selling Experience
  • 92% of sellers were assisted by a real estate agent when selling their home
  • Sellers typically sold their homes for 97% of the listing price and 46% reduced the asking price at least once
  • 44% of sellers offered incentives, most often home warranty policies and assistance with buyer closing costs
  • 6% of homes were sold by unrepresented sellers (FSBO) of which 33% knew the buyer prior to the sale