2021 Home Buyers and Sellers Generational Trends Report
2021 Home Buyers and Sellers Generational Trends Report
National Association of REALTORS? Research Group
2021 NAR Leadership Team
CHARLIE OPPLER President
LESLIE ROUDA SMITH, ABR, CRS, PMN, CRB, EPRO, CIPS, AHWD, C2EX President-Elect KENNY PARCELL, ABR, CRS First Vice President NANCY LANE Treasurer
VINCE MALTA Immediate Past President TOMMY CHOI Vice President of Association Affairs LEIGH BROWN, ABR, AHWD, C2EX, CRS, e-PRO, SFR, SRES Vice President of Advocacy
BOB GOLDBERG Chief Executive Officer
2021 NAR Home Buyer and Seller Generational Trends
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NAR Research Staff
Lawrence Yun, Ph.D. Chief Economist and Senior Vice President Jessica Lautz, Dr. of Real Estate Vice President, Demographics and Behavioral Insights Brandi Snowden Director, Member and Consumer Survey Research Meredith Dunn Research Manager Matt Christopherson Research Survey Analyst Sidnee Holmes Research Assistant
2021 NAR Home Buyer and Seller Generational Trends
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2021 Home Buyers and Sellers Generational Trends Report
Table of Contents
Introduction
5
Chapter 1: Characteristics of Home Buyers
10
Chapter 2: Characteristics of Homes Purchased
30
Chapter 3: The Home Search Process
49
Chapter 4: Home Buying and Real Estate Professionals
62
Chapter 5: Financing the Home Purchase
80
Chapter 6: Home Sellers and Their Selling Experience
97
Chapter 7: Home Selling and Real Estate Professionals
126
Methodology
141
2021 NAR Home Buyer and Seller Generational Trends
4
Introduction
2021 Home Buyers and Sellers Generational Trends Report
5
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