April is National Open House month and spring is in full bloom. So it’s time to put those signs out! Here are some great statistics from NATIONAL ASSOCIATION OF REALTORS®2015 Profile of Home Buyers and Sellers* that can help shed light on who is walking through the door.
1. Total Buyers: 48% of all buyers attended an open house as part of their search process.
2. More Likely to Buy: Repeat buyers are more likely to find their home from an open house than first-time buyers and repeat buyers use open house more frequently.
3. Median Income: Buyers with a median income between $250,000 and $499,000 are more likely to find their home through an open house than buyers in other income brackets.
4. Age Group: Buyers ages 25-44 and 45-64 were equally likely to utilize open houses in their home search at 49 percent—higher than those age 65 and older (42 percent) and much higher than buyers between the ages of 18 and 24 (23 percent).
5. New v. Previously Owned: Buyers of new homes use open houses much more frequently than buyers of previously owned homes.
6. Couples v. Singles: Married couples and unmarried couples are more likely to walk through open houses than single buyers. Also, single females and married couples were most likely to visit open houses as a first step in the home buying process.
7. Where they live: Buyers in the Northeast and West are more likely to find a home through an open house than those in other regions.
Add an American Home Shield® Real Estate Warranty to your listings every time.
Source: NATIONAL ASSOCIATION OF REALTORS® 2015 Home Buyers and Sellers Profile*
*2015 Home Buyers and Sellers Profile based on initiatives begun in 2014.
Next > A Successful Open House in 4 Steps