Home sellers have been tiptoeing back into the housing market throughout 2013, and we’ve collected the most important traits of those sellers.
We’ve been covering the National Association of Realtors’ Home Buyer and Seller Generational Trends report pretty extensively the last few weeks, but so far, our coverage has focused squarely on the homebuyer side of the equation.
But starting today, we’re analyzing home sellers, and we’ll be combing through the data in the coming days looking for notable trends, stats and other interesting findings. And for our first story, here are five of the more important characteristics of home sellers thus far in 2013:
1. Exceptional Generation X: Though Baby Boomers (those born from 1946 to 1964) are still the most active generation of home sellers (they have made up 41 percent of home sellers thus far), Generation X home sellers (those born between 1965 and 1979) are proving more than able, having made up 30 percent of all sellers, the second-most of any generation.
2. An Affluent Activity: Home sellers have remained a predominantly affluent bunch in 2013. Fifty-nine percent of home sellers so far this year had incomes of at least $85,000, with 12 percent alone making more than $200,000; by comparison, just 20 percent of sellers made less than $54,999.
3. All the Single Ladies: Single women continue to stomp single men on the homeownership front. Among all home sellers, single women made up a whopping 14 percent of the group, compared to just 5 percent for single men; unsurprisingly, the vast majority of sellers were married couples, being 76 percent of sellers.
4. No Kids Up in Here: This stat intrigued us – the majority of home sellers (60 percent, in fact) had no kids in the house aged 18 or younger. Though the U.S. birth rate has been on the decline, we shouldn’t count out empty nesters in that stat.
5. Suburbs Rule: Urbanism may be on the rise, but the majority of homes sold thus far in 2013 have been in the suburbs. Fifty-one percent of all homes sold were located in suburban locations, compared to 17 percent in small towns, 17 percent in urban cities and 12 percent in rural communities.