The National Association of REALTORS® has just announced the results of its latest home buying an selling survey "The Home Buying and Selling Process:1997" which indicates a healthy balance of available properties for first-time homebuyers and move-up buyers.

First-time home buyers are a critical aspect of the market, accounting for 42 percent of the nation's housing market during the second half of 1997. This strong entry level activity fosters a domino effect which pushes the market, allowing existing homeowners the opportunity to sell their homes and trade up to larger properties. The result is a strong overall market that has been boosted to unprecedented levels.

The survey also showed that four out of five buyers (82 percent) purchased an existing rather than new home, reflecting consistent ratios over time between new and existing homes.

According to the results, the typical home buyer searched a median of eight weeks to find the home ultimately purchased, and examined a median number of 10 homes. The typical seller's home was on the market for a median of seven weeks. Only 15 percent sold their home without using a real estate agent, which is similar to the results of previous surveys. Of those who used an agent, 71 percent said they would use the same real estate agent in the future.

Of special interest was the increase in non-traditional buyers. Although married couples accounted for 64% of sales, single women were next with 18% of home transactions. Single men made 11% of home purchases and the remaining 7 percent were unmarried couples among others.

For the first time, race and ethnic information was included in the bi-yearly survey. Whites made up 90 percent of the market, blacks accounted for five percent of buyers, Asian or Pacific Islanders four percent and American Indian, Eskimo or Aleut made up one percent of buyers. As for ethnicity, 8 percent said they were Latino, Spanish or Hispanic. English was the primary language for all but 4 percent of buyers.

The reasons for buying a home varied, with 37 percent saying they wanted to make a transition from renting. Sixteen percent needed more space because of marriage or a growing family, while 15 percent were moving for a job change.

The results were obtained through questionnaires mailed to a nationwide sampling of 9,800 homebuyers who purchased homes in the second half of 1997. The studies are conducted every two years by NAR.

Published: July 8, 1998

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Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. For more articles by Blanche, click here.