- The typical buyer purchases a home with 3 bedrooms and 2 full bathrooms
- Southerners tend to buy newer homes (less than 5 years old)
- 78% of all buyers purchased a home with a garage
- Northeastern buyers value hardwood floors more than people in other regions
- Southerners bought larger homes at an average of 2,000 sq. ft.
- 42% of buyers aged 55 and older consider a single-level home a must
- Both single men and married couples placed a high importance on new kitchen appliances
- The 2nd most important home feature to buyers, behind central AC, was a walk-in closet in the master bedroom
- The 2 features buyers placed the highest dollar value on were waterfront location and new homes - less than 5 years old
- The rooms that buyers were willing to pay the most for were a basement and an in-law suite
“Although 97% of recent buyers were satisfied with their home purchase, there are always features buyers would like that they don’t have,” said NAR VP of Research, Paul Bishop.
Even if the home you buy meets your main criteria, within 3 months of purchasing there is more than a 50% chance you will undertake a home improvement project!