NAR Stats

Published at NAR website on November 11, 2020

Overview of the Real Estate Market

5.34 million existing homes were sold in 2019, according to data from the National Association of REALTORS®. 682,000 newly constructed homes were sold in 2019, according to the U.S. Census Bureau.
The Association of Real Estate License Law Officials (ARELLO) estimates that there are about 2 million active real estate licensees in the United States.
There are 106,548 real estate brokerage firms operating in the United States (Real Estate and Rental and Leasing: Summary Statistics for the U.S., States, and Selected Geographies: 2017).
Preliminary results from the U.S. Energy Information Administration’s Commercial Buildings Energy Consumption Survey (CBECS) show that there were 5.6 million commercial buildings in the United States in 2012, comprising 87.4 billion square feet of floorspace.
There are approximately 119.7 million occupied housing units in the United States, according to the 2018 American Community Survey. The typical occupant moved into their house in 2010. The typical home size is 1,500 square feet. The typical home owner is 52 years old.
In 2016, 63.7% of families owned their primary residence, according to the Federal Reserve’s Survey of Consumer Finances.

Members to date: 1,451,031 as of October 2020

Number of local associations: 1,124 as of 2019

FSBOs accounted for 8% of home sales in 2018. The typical FSBO home sold for $217,900 compared to $295,000 for agent-assisted home sales.
FSBO methods used to market home:
- None: Did not actively market home: 46%
- Yard sign: 25%
- Friends, relatives, or neighbors: 22%
- Social networking websites (e.g. Facebook, Twitter, etc.): 14%
- Open house: 11%
- Multiple Listing Service (MLS) website: 6%
- Online classified advertisements: 5%
- For-sale-by-owner websites: 5%
- Video: 2%
- Print newspaper advertisement: 1%
- Direct mail (flyers, postcards, etc.): 1%
Most difficult tasks for FSBO sellers:
- Preparing/fixing up home for sale: 12%
- Understanding and performing paperwork: 10%
- Getting the right price: 9%
- Selling within the planned length of time: 6%
- Having enough time to devote to all aspects of the sale: 5%

65% percent of REALTORS® are licensed as sales agents, 22% hold broker licenses, and 15% hold broker associate licenses.
The typical REALTOR® is a 55-year-old white female who attended college and is a homeowner.
64% of all REALTORS® are female, and the median age of all REALTORS® is 55.
Real-estate experience of all REALTORS® (median): 9 years
Median tenure at present firm (all REALTORS®): 4 years
Most REALTORS® worked 36 hours per week in 2019.
The median gross income of REALTORS® was $49,700 in 2019, an increase from $41,800 in 2018.
Median number of transaction sides in 2019:
- Residential sides for all REALTORS®: 12
- Residential sides for residential specialists only: 12
- Residential sides for commercial specialists only: 3
- Commercial sides for commercial specialists only: 6
Formal education of REALTORS®:
- Some college: 28%
- Bachelor's degree: 32%
- Graduate degree and above: 13%
- Associate degree: 13%
- Some graduate school: 6%
- High-school graduate: 7%
REALTOR® affiliation with firms:
- Independent contractor: 87%
- Employee: 5%
- Other: 8%

REALTORS® most often prefer to communicate with their clients through email, at 93%. Ninety-two % prefer to communicate through text messaging, and 37% through instant messaging.
REALTORS® who were 49 years and younger were the most likely to have a real estate blog, at 11%.
76% of female REALTORS® and 73% of male REALTORS® use social media for professional use.
Members found that the three most valuable technology tools used in their business, excluding email and cell phones were local MLS websites/apps (64%), lockbox/smart key devices (39%), and social media platforms (28%).
The top 3 tech tools that have given the highest quality of leads: social media at 47%, MLS site at 32%, brokerage's website and listing aggregator site, both at 29%.
48 percent of all real estate firms cited keeping up with technology as one of the biggest challenges facing their firm in the next two years.

First-Time vs. Repeat Buyers:
- First-time buyers: 31%
- Median age of first-time buyers: 33
- Median age of repeat buyers: 47
- Median household income of first-time buyers: $80,000
- Median household income of repeat buyers: $106,700
The typical home purchased was 1,900 square feet in size, was built in 1993, and had three bedrooms and two bathrooms.
Among those who financed their home purchase, buyers typically financed 88% of the home price.
88% of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69 percent in 2001.
Buyers who would use their agent again or recommend their agent to others: 91%
Where buyers found the home they purchased:
- Internet: 52%
- Real estate agent: 29%
- Yard sign/open house sign: 6%
- Friend, relative, or neighbor: 5%
- Home builder or their agent: 6%
- Directly from sellers/Knew the sellers: 2%
- Print newspaper advertisement: 1%

The typical home seller in 2017 was 56 years of age, had a median household income of $107,100, and lived in their home for 10 years.
89% of sellers were assisted by a real estate agent when selling their home.
Recent sellers typically sold their homes for 99% of the listing price, and 38% reported reducing the asking price at least once.
The typical home sold was on the market for 3 weeks.
41% of sellers who used a real estate agent found their agents through a referral by friends or family, and 26% used the agent they previously worked with to buy or sell a home.
Sellers who definitely would use same agent again: 74%