What's Driving Real Estate Sales?

August 24, 2009

Last week I did a quick survey of the Century 21 Lois Lauer Real Estate agents to find out into which of the following categories our buyers fit.

1. First Time Home Buyers

2. Move-up Buyers

3. Down-sizing Buyers

4. Investors

5. Transferees

6. Already Own- Not Selling

The survey confirmed what my sense of this real estate market. Low home prices, $8,000 tax credit for first time home buyers, low interest rates have indeed stimulated the desire to become a homeowner rather than a renter.

Here are the results of this non-scientific survey.

51% of our buyers were first timers.

21.5% were investors.

13 % were move-up buyers

7.7% already were homeowners and were not selling their present homes.

4.4% were transferees

1.5% were homeowners that were downsizing.

In all 85% were buyers because they found that this real estate market offered real opportunities.