Field Guide to Quick Real Estate Statistics

(Updated July 2010)

Looking for quick statistics for your sales meeting or a customer brochure? Need a quick fact to make your point? Information Central has compiled some of the most requested statistics for quick and easy access. Find the information that you need, as well as its source, at a glance. (K. Janisch, Information Specialist)

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Real Estate and the Economy

A quick list of up-to-date Housing and Economic Indicators is available from NAR Research.

Despite the current economic slowdown, the housing sector still contributed nearly $2.1 trillion to the national economy in 2007, accounting for 15 percent of overall economic activity. The construction of new homes, value-added contributions of REALTORS®, and mortgage banking activity all directly add to economic output, job creation, and income generation. In addition, commercial real estate, which expanded solidly in 2007, contributed an additional $483 billion to the nation’s economy.

Source: Real Estate and the Economy, Jan. 2008

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REALTOR® Statistics

Hours worked by all REALTORS® (nationwide): 40 per week

Gross personal income by hours worked: $48,000 (median for 40-59 hrs.)

Percent of business generated by REALTOR® personal web site (all REALTORS®): 

• Zero: 37%
• Over 25%: 10%

Real estate experience of all REALTORS® (median): 10 years

REALTORS® by gender: Male 43%; Female 57%

Formal education of REALTORS®: 

• Some college: 32%
• Associate degree: 11%
• Bachelor's degree: 29%
• High school graduate: 9%
• Graduate degree and above: 11%
• Some graduate school: 8%

Sides per agent: For all REALTORS® in 2009, the typical brokerage specialist completed 7 transaction sides or commercial deals

Median tenure at present firm (all REALTORS®): 5 years

REALTOR® affiliation with firms: 

• Independent contractor: 81%
• Employee: 6%
• Other: 13%

Source: 2010 National Association of REALTORS® Member Profile

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NAR Membership Statistics

Members to date: 1,135,924 as of Aug. 31, 2009

Number of local associations: 1,437

Source: Monthly Membership Report and NAR Membership Statistics, 1908-present

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Home Buyer Statistics

Active home search (median):

• Number of weeks searched: 12
• Number of homes seen: 12

First-Time vs. Repeat Buyers:

• First-time buyers: 47%
• Repeat buyers: 53%
• Median age of first-time buyers: 30
• Median age of repeat buyers: 48

Buyers who definitely would use same agent again: 81%

Actions taken as result of Internet home search: 

• Drove by/viewed a home: 77%
• Walked through a home viewed online: 61%
• Found agent used to search/buy home: 28%

Information sources used in home search: 

• Internet: 90%
• Real estate agent: 87%
• Yard sign: 59%
• Open house: 46%
• Newspaper ad: 40%
• Home book or magazine: 26%

Source: 2009 National Association of REALTORS® Profile of Home Buyers and Sellers

 

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 For Sale By Owner (FSBO) Statistics

FSBOs accounted for 13% of home sales in 2008. The typical FSBO home sold for $153,000 compared to $211,000 for agent-assisted home sales.

FSBO Methods Used to Market Home:

• Listing on Internet/FSBO website: 51%
• Yard sign . . . 44%
• Friends/neighbors . . . 33%
• Newspaper ad . . . 22%
• Open house . . . 15%

Most Difficult Tasks for FSBO Sellers:

• Selling within the planned length of time: 9%
• Getting the right price: 15%
• Preparing/fixing up home for sale: 18%
• Understanding and performing paperwork: 15%
• Having enough time to devote to all aspects of the sale: 5%

Source: 2009 National Association of REALTORS® Profile of Home Buyers and Sellers

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Statistics on REALTORS® and Technology

• The typical REALTOR® spent up to $1,200 on technology for real estate purposes in 2008.
• The top three tools that respondents plan on purchasing or replacing in the next year are: smartphone with email/Internet connection (42%); notebook/laptop (34%), and digital camera (26%).
• The most frequently used operating system is Windows XP (63%).
• The most popular smartphones are Blackberry (32%), Palm Treo (14%), and iPhone (10%).
• 84% of REALTORS® use social media to some extent.
• The top places where REALTORS® place their listings are REALTOR.com, their broker's website, their local MLS site, and their own website.

Source: 2009 REALTOR® Technology Survey

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Recommended sources for data on real estate:

• Existing home sales (NAR)
• New home sales (Census Bureau)
• Home ownership rates (Census Bureau)
• Foreclosures & delinquent loans (Mortgage Bankers Association)
• Convention mortgage interest rates (Federal Reserve)
• Commercial sector data (NAR)

Hidden gems:

• REALTOR® Magazine Media Kit (NAR) - Follow links under Learn more for demographic data on REALTORS®.
• American Housing Survey (Census Bureau/HUD) - Very detailed survey of residential properties and households, conducted every other year.
• U.S. Housing Market Conditions (HUD) - See Historical Data for times series data from a variety of sources.
• State of the Nation's Housing (Harvard University - Joint Center for Housing Studies) - Appendix tables include useful historic data on homeownership.
• City Reviews (National Real Estate Investor) - Metro area reviews include recent data on commercial property sectors.
• Survey of Consumer Finances (Federal Reserve) - Data on home ownership, real estate investment, mortgages, and other financial activities of U.S. households.