Earlier this year, the National Association of REALTORS® (NAR) conducted their annual survey of homebuyer trends. Since 1981, the NAR surveyed homebuyers in an attempt to stay on top of current trends in the real estate market. Savvy Lake Havasu home sellers and their representatives utilize this information to help them market their homes appropriately. Of course, you must take into consideration local trends that might vary from national ones. But here is what the NAR found 2018 homebuyer trends to be around the United States.
2018 Homebuyer Trends
According to the NAR, 2018 homebuyer trends show exactly one-third of people who bought their homes between July 2017 and June 2018 were first-time homebuyers. That’s slightly less than the 34% from last year. Historically, they made up approximately 40% of the overall buyers. Marketing your Lake Havasu home to first-time buyers should be a priority. A majority of these buyers are looking for energy-efficient homes and turn-key properties. Talk to your real estate agent about which features should be highlighted in your marketing materials.
How Do They Search for a Home?
It should come as no surprise that the majority of buyers, including in Lake Havasu, regularly use the internet in their home search (83%), according to 2018 homebuyer trends. Fifteen years ago, only about half that amount used the internet this way. More than half (57%) used their phone, tablet or other mobile devices during the home buying process. This appears to be a trend that is taking off. Just three years ago, only 41% used mobile devices. As technology advances, it appears that this trend will continue to grow. Yet, even with all this technology, 63% of buyers still rely on their real estate agent to receive the necessary information about a property. Therefore, sellers should make sure that their real estate agent is also marketing the listing online. You can also help out by posting open house times on your social media and sharing the link to your listing with friends and family via text message or private online threads.
Who Do Buyers Talk to First?
Nearly half (44%) of all homebuyers hit the internet first. For 17% of those surveyed about 2018 homebuyer trends, a real estate agent was their first contact. Approximately 7% visited a lender before they even started their search. Finally, 6% drove through the neighborhoods they were interested in first. That makes curb appeal especially important. Also, prominently display your “for sale” sign in a location easily seen from the street. Since 87% of buyers utilized the services of a real estate agent, it still seems well worth the cost to hire a professional to represent you instead of going the “For Sale By Owner” route. After factoring in the amount of time it takes to market, manage, and negotiate throughout the sale process, it’s actually much cheaper to hire a pro than to do it yourself.
Why share the information found in the NAR’s 2018 homebuyer trends survey with Lake Havasu sellers? This data helps you and your agent create a custom marketing plan that caters to what buyers are looking for right now. In turn, that helps you sell your home faster. When you’re ready to list your property, contact me.