Profile of the Typical Florida Home Buyer


While a single description doesn't apply to every buyer, the latest Florida 2014 Profile of Home Buyers compiled by the National Association of Realtors® (NAR) research staff and released by Florida Realtors provides some insights.

Florida 2014 highlights

Home buyer characteristics

  • 24 percent of home buyers were first-time buyers in Florida, compared to a national level of 33 percent
  • 14 percent of buyers purchased a multi-generational home because older children moved back, to save money or to take care of aging parents
  • The typical buyer was 54-years-old; the typical first-time buyer was 33; and the typical repeat buyer was 59
  • 67 percent of buyers were married

Characteristics of homes purchased

  • New home purchases continue to drag at a share of 18 percent
  • 81 percent of buyers purchased a detached single-family home
  • 21 percent of buyers over the age of 50 bought a home in senior-related housing

Home buying and real estate professionals
  • 85 percent of buyers purchased their home through a real estate agent or broker
  • 35 percent of buyers found their agent through a referral from a friend or family member; 10 percent used an agent they had used before
  • 54 percent of recent Florida buyers only interviewed one agent before choosing representation
  • 89 percent of buyers would use their agent again or recommend them to others

Financing the home purchase
  • 77 percent of Florida buyers financed their home purchase – less than the 88 percent who did so nationally
  • 25 percent of buyers said the mortgage application and approval process was somewhat more difficult than expected; 24 percent said it was much more difficult than expected
  • In Florida, 82 percent of buyers believe their home is a good financial investment

Warmest Regards,

Kevin Aizenshtat


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