A survey of current homebuyers and sellers

The median household income for sellers outpaces buyers by 3.8%.

Buyers — $107,000

Sellers — $111,100

Education levels for buyers and sellers were nearly identical.

Buyers — 7% have a doctoral degree, 33% have a masters or have done some graduate work, 44% have a bachelor’s or associate’s degree and 17% have a high school diploma or less.

Sellers — 7% have a doctoral degree, 32% have a masters or have done some graduate work, 44% have a bachelor’s or associate’s degree and 18% have a high school diploma or less.

Buyers’ top motivation was the wish to have their own home, whereas sellers were primarily driven by the desire to live closer to loved ones.

Buyers — The top four reasons for buying were:

1. Desire to own a home of their own (26%)
2. Desire to be closer to family/friends (12%)
3. Desire for larger home (11%)
4. Change in family situation (8%)

Sellers — The top four reasons for selling were:

1. Desire to move closer to family/friends (23%)
2. Current home is too small (13%)
3. Change in family situation (10%)
4. Other (10%)

About half of buyers were previous homeowners. The rest had rented or lived with loved ones. A little over a quarter of sellers lived in their home less than five years, while a quarter lived in their home over 20.

Buyers — 51% owned a previous home, 36% rented an apartment or house, 6% lived with friends or family and paid rent, 6% lived with friends or family without paying rent, and 1% rented the home they purchased.

Sellers — 25% lived in their previous home for 21 years or more, 11% for 16 to 20 years, 12% for 11 to 15 years, 12% for 8 to 10 years, 12% for 6 to 7 years and 28% for five years or less.

Language diversity is on the rise among buyers.

Buyers — 94% spoke English and 6% spoke another language.

Sellers — 99% spoke English and 1% spoke another language.

The majority of buyers and sellers have no children under 18 living at home.

Buyers — 70% have no children under their roofs, 13% have one child, 12% have two and 5% have three or more.

Sellers — 75% have no children under their roofs, 10% have one child, 10% have two and 6% have three or more.

75% of homebuyers ages 25 to 33 were first-time homebuyers, 44% ages 34 to 43 were first-time homebuyers, 24% of those 44 to 58 and 15% of buyers ages 59 and older.

2% of buyers are active in the armed forces, 16% are veterans and 82% are neither.14% of buyers purchased a home for multigenerational purposes (to house adult children, adult siblings, parents and/or grandparents).

90% of buyers were born in the United States and 10% were born elsewhere.

88% of buyers identify as straight/heterosexual, 3% as gay/lesbian, 2% bisexual and 7% either preferred to self-describe or not to answer.

Less than 1% of homeowners identify as transgender.