Results of the 2010 Mass. Profile of Home Buyers and Sellers report released

In case you missed it last week (multiple snow storms can do that), we issued the results of our annual Massachusetts Profile of Home Buyers and Sellers Report.  While you need to be a member of the Massachusetts Association of REALTORS® to access the report, here are a few interesting facts that we wanted to share.  To see more, click here to access the news release.

  • When first-time and repeat home buyers were asked “what was the primary reason they purchased a home in 2010,” 36 percent responded it was the “desire to own a home”
  • The study also reported that 55 percent of all homes purchased in the Bay State in 2010 were made by first-time home buyers (compared to 50 percent nationally).
  • The median income of buyers (which is reported from 2009 household data) was down to $82,100 compared to $94,800 in 2008 and higher than the $72,200 national median income.
  • The study showed that 94 percent of Massachusetts home sellers chose to work with a real estate professional, which is six percent higher than the 88 percent national average.
  • The median age of the home seller was 46 years (which is up from 44 years in 2009) and they had a median income of $108,900 (the US median was $90,000).

Just so you know, the 2010 Massachusetts Profile of Home Buyers & Sellers was compiled by the National Association of REALTORS® (NAR), on behalf of the Massachusetts Association of REALTORS® (MAR).