Yesterday, NAR Research held a Twitter chat on the home search process for recent buyers. The turnout was quite large, and we were able to interact with many of you who had significant insights into this process. There were too many responses to include them all, but the recap of the major highlights is below. Thank you to all who participated!
(2:01pm EST) @NAR_Research I’m Jessica Lautz, Manager of Member & Consumer Survey Research. Let’s talk about home search data from recent buyers-join w/#HBSHomeSearch
(2:01pm EST) @NAR_Research For 52% of home buyers, the first step in the home-buying process was looking online for properties #HBSHomeSearch
(2:03pm EST) @NAR_Research 90% of home buyers used the Internet in their home search. 96% of buyers 44 and under used the Internet to search for homes.#HBSHomeSearch
(2:05pm EST) @NAR_Research Over half of buyers started their home search online. 42% first found the home they purchased online. #HBSHomeSerch
(2:07pm EST) @NAR_Research Real estate agents were viewed as a useful information source by 97% of buyers who used an agent during the home search#HBSHomeSearch
(2:11pm EST) @NAR_Research 91% of home buyers who used the Internet to search for homes purchased their home through an agent. #HBSHomeSearch
(2:12pm EST) @C21ActionPlus #hbshomesearch Which age group is most likely to search for a home online?
(2:13pm EST) @NAR_Research The typical buyer who used the Internet in their search is 41 and had a median 2011 household income of $80,700.#HBSHomeSearch
(2:15pm EST) @nobuhata For those wanting the #HBSHomesearch / @GoogleRE study: http://realtor.org/reports/digital-house-hunt …
(2:17pm EST) @NAR_Research Sellers do list their homes online in traditional MLS sources, but increasingly on other sites like social media, video, etc#HBSHomeSearch
(2:19pm EST) @TopCommunities @NAR_Research What was the breakdown of how buyers found their agents? how did this comp to previous years? Any trends?#HBSHomeSearch
(2:20pm EST) @NAR_Research Sellers, however, are listing in print newspaper & mags-when buyers are less likely to use those than they did in past yrs#HBSHomeSearch
(2:20pm EST) @NAR_Research The typical home buyer searched for 12 weeks and viewed 10 homes #HBSHomeSearch
(2:21pm EST) @C21ActionPlus #HBSHomeSearch Younger age groups are more interactive. Do you agree as they age & become FTH, online reach will be more &more valuable?
(2:21pm EST) @NAR_Research Real estate consumers who use the internet while researching a home are more likely to use multiple sources. #HBSHomeSearch
(2:23pm EST) @NAR_Research About 8 in 10 buyers rated photos and detailed information about properties for sale the most useful website features.#HBSHomeSearch
(2:25pm EST) @NAR_Research 4 in 10 first-time home buyers reported paperwork and understanding the process and steps of home buying were difficult #HBSHomeSearch
(2:27pm EST) @NAR_Research Home shoppers perform an average of 11 searches prior to taking action on a real estate site. #HBSHomeSearch
(2:28pm EST) @FUNomenalMe Seeing #hbshomesearch show up in my stream..is there a seminar, webinar or event that I’m unaware of? Good #RealEstate info
(2:28pm EST) @NAR_Research Finding an agent and agent related searches on YouTube grew 46% year-over-year. #HBSHomeSearch
(2:29pm EST) @NAR_Research Approximately 9 in 10 recent buyers were at least somewhat satisfied with the home buying process #HBSHomeSearch
(2:31pm EST) @NAR_Research Thank you for your questions! If I didn’t get to your question, please email me at email@example.com. #HBSHomeSearch
(2:33pm EST) @NAR_Research Please check out http://www.realtor.org/topics/profile-of-home-buyers-and-sellers … and http://www.realtor.org/reports/digital-house-hunt … for more information on the search process. #HBSHomeSearch
(2:36pm EST) @nobuhata Email data(at)realtorsdotorg for specific questions, download #HBSHomesearch reports: http://bit.ly/UFZVCe & http://bit.ly/ZxUPsM
(5:15pm EST) @ACARtweets @NAR_Research This was such an awesome platform! Great idea #HBSHomeSearch great idea NAR!