Sometimes a real estate website will ask us to pass along some content they think might be of general interest. Have a look at this “analysis” of home buyers from Movoto.
Who is the typical home buyer? The answer isn’t surprising. According to National Association of Realtors, the largest category home buyers are married couples. After this it’s single females, single males, and unmarried couples.
But that doesn’t mean each group looks for the same thing. Below are the four largest groups of home buyers. How do you compare?
The infographic itself (the above image is just one item from it) appears in the Movoto blog entry before the introductory paragraphs we quoted above. That’s a pity. In the graphic, we don’t learn until the very bottom that the information it’s based on comes from those brilliant housing geniuses from the National Association of Realtards. NAR is the wellspring of unbiased, spin-free information from professional real estate agents who have your best interests as their number one priority, that is if by “your best interests” I actually mean “their maximum profit.”
See the full infographic when you click on through, plus a few more comments from us. But there’s more inside that NAR report than what Movoto offered, so perhaps we’ll be cherry-picking our own observations from this “study” at some point. And of course, we welcome your observations. Catch you on the other side.
Okay, did anyone actually learn anything from the above? We observe that the unmarried couple subtype at left got jettisoned in favor of the LGBTQ couple above after we were given an early look at the graphic.
The “What they care about in neighborhoods” section is a waste of space. Every single group lists the same five items in almost the exact same order. Couples value being close to work more than singles, probably because they have someone to come home to. (Heck, the workaholic single male subtype would probably skip the house and crash on a couch at work.)
Now wouldn’t it have been more useful if there were a demographic group that doesn’t give a crap about “quality of the neighborhood” (whatever that means) and their first priority is something tangible such as “Coffee shop within 50 feet” or “Access to strip clubs”? And we’re certainly surprised that even the married couple didn’t rank “Quality of Schools” anywhere on the list. Obviously none of the people profiled here live in the RBA. Where did NAR find these “Buyers,” on Second Life?
Similarly, every single one of the groups is “More likely to buy in a suburb/subdivision.” Even the hipster, the definition of urban cool. Riiiight. We’re also amused that hipsters, according to Movoto, only are found in the single female variety.
Finally let’s admire the blog entry’s stunning conclusion.
What’s It All Mean
Now that we have pulled back the curtain on who is buying homes, we can safe to say the percentage at which these four groups purchase homes has remained relatively steady over the past decade. Unless there’s a drastic change, married couples will remain the predominant home buyers.
Unless there’s a drastic change? You mean like all those foreclosures, all those students graduating with too much debt to qualify for a mortgage, and the collapse of marriage as an institution among non-college graduates? That kind of drastic change?
This infographic begs to be parodied and we invite your suggestions on how to adapt it to the needs of the Bay Area.
This is also your Weekend Open Thread, so let us know about any Open Houses you visited and which of the above people in the infographic you saw there.