As of March 2024, home prices were at a record high\u2014higher than those in any other March period NAR has recorded. The opportunity here is that those who have been in their homes for a while have substantial equity, and if they want to move, many can do so comfortably. Brokers should take care to educate agents on how to approach clients. Interest rate buy-downs and large down payments can offset interest rates and high costs.<\/li>\n<\/ul>\n\n\n\nA Few Stats to Take Action On<\/h2>\n\n\n\n
One of the most effective ways to use NAR\u2019s data and findings is to take relevant numbers and make business decisions that reflect the current trends. Here are a few:<\/p>\n\n\n\n
Add Renovation Expertise to Your Repertoire<\/h3>\n\n\n\n
Lautz said the average age of a purchased home in today\u2019s market is 38 years, so there is an opportunity to educate buyers and sellers on renovation projects and partner with renovation professionals.<\/p>\n\n\n\n
Millennials Outpace Boomers Yet Again<\/h3>\n\n\n\n
Last year, the market was all about boomers as they outbid and outbought millennials, but the tides have turned and millennials are now overtaking boomers in the marketplace. In many cases, millennials are repeat buyers, Lautz said, observing the industry needs to remember that on the older end of the millennial generation, buyers are up to 44 years old, settled in a career, with a viable income and previous experience in the real estate market.<\/p>\n\n\n\n
Buyers Want to Be Close to Friends, Family<\/h3>\n\n\n\n
At the height of the COVID-19 pandemic, buyers were moving from their original locations, sometimes for hundreds of miles, but that\u2019s subsided quite a bit, Lautz says. They\u2019re still willing to move a little further away than before the pandemic\u2014up to 20 miles, as opposed to the 1989 average of 10 miles away. Still, for young people, the data shows that being close to friends and family is important to young buyers.<\/p>\n\n\n\n
That said, about a quarter of buyers are still moving upward of 500 miles, but data shows that it\u2019s to be closer to grandchildren, parents or friends.<\/p>\n\n\n\n
Cash Rules the Market<\/h3>\n\n\n\n
Nearly one-third of buyers\u201428%\u2014are all-cash buyers, so they don\u2019t care about interest rates. This means that mindset is important for brokers and agents. Yes, interest rates are high, but a substantial portion of the market isn\u2019t worried about interest rates.<\/p>\n\n\n\n
‘Houses Before Spouses\u2019<\/h3>\n\n\n\n
Single women and men make up one-third of the first-time buyer market, with women dominating the space, Lautz says. What\u2019s more, 29% of Black first-time home buyers were women, signaling that they\u2019re prioritizing homeownership. Priorities are different in today\u2019s market, and real estate professionals need to be cognizant of what\u2019s available for single people ready to get into homeownership.<\/p>\n\n\n\n
Unique Living Situations<\/h3>\n\n\n\n
Still, with affordability being a key component for first-time buyers, companionship and support of varied kinds make for a market with diverse needs. Unmarried couples, friends and multiple generations of families are teaming up on homeownership to afford bigger or more comfortable living arrangements than they would be able to on their own.<\/p>\n\n\n\n
Pets are also important, she says, observing that 19% of home buyers consider their pets\u2019 needs during their search for a home.<\/p>\n\n\n\n
Don\u2019t Skimp on Tech and Online Marketing<\/h2>\n\n\n\n
A sticky trend\u2014a figure that continues to surface time and again\u2014is that buyers are purchasing homes without seeing them in person. Since the start of the pandemic-fueled housing frenzy, the number of buyers purchasing homes without setting foot in them is creeping up, and Lautz projects that it will continue to do so. That means now is as good a time as any to ensure technology is up to date and in use and that online options for potential customers to view homes are available.<\/p>\n\n\n\n
National Association of REALTORS\u00ae
Reprinted with permission<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Making use of data is a great way to convey facts rather than headlines and educate your agents. On a regular rotation, the National Association of REALTORS\u00ae collects and presents market data to help brokers stay up to date on market trends. Use these stats to help guide your agents and your business. At the … <\/p>\n
Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-24941","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nData Points to Help Steer Your Brokerage - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/data-points-to-help-steer-your-brokerage\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/data-points-to-help-steer-your-brokerage\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/data-points-to-help-steer-your-brokerage\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Data Points to Help Steer Your Brokerage\",\"datePublished\":\"2025-06-02T13:19:14+00:00\",\"dateModified\":\"2025-06-02T13:19:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/data-points-to-help-steer-your-brokerage\\\/\"},\"wordCount\":789,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/data-points-to-help-steer-your-brokerage\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/data-points-to-help-steer-your-brokerage\\\/\",\"name\":\"Data Points to Help Steer Your Brokerage - 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