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NAR’s Latest Buyer-Seller Report: Moving Earlier, Selling Quicker

November 12, 2021

P R O P E R T Y   S E A R C H

R E S T I V O – H E C H T M A N    T E A M

NAR’s 2021 Buyer-Seller Report: Moving Earlier, Selling Quicker By Kerry Smith

Between July 2020 and June 2021, U.S. homes sold at a record pace. However, many owners didn’t stay in their home as long, with average tenure dropping from 10 years in last year’s report to eight years this year. Still, 9 out of 10 buyers (87%) and sellers (90%) used an agent or broker.

WASHINGTON – Why did buyers and sellers choose to buy or sell this year? Many wanted to live closer to family and friends, and a similar number wanted a home with more space.

In a strong sign of a seller’s market, most earned their full asking price and went under contract in just one week.

Further sales figures appear in the National Association of Realtors®’ 2021 Profile of Home Buyers and Sellers, a yearly report – now in its 40th year – that analyses demographics, preferences and experiences of buyers and sellers across America.

Jessica Lautz, vice president of demographics and behavioral insights at NAR, says both buyers and sellers “have been driven by the desire to be close to family and friends, as well as the need for a larger home” during the pandemic. A bullet-point list of top findings by category is posted on NAR’s website.

Of those sellers who also became buyers, many traded up to bigger, more expensive and often newer homes, with 46% purchasing a larger home and 28% one of the same size.

Click on the image to download the entire report:


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