Today we honor those who have served our country, and those who are actively serving in the military, or have a spouse who is currently or has served in the past. Looking at data from the recently released 2016 Profile of Home Buyers and Sellers, we can see home buying trends among active-duty service members and veteran home buyers.
- Recent home buyers who were active-duty service members made up two percent of all recent buyers and veterans made up 18 percent of all recent home buyers. Fifty-one percent of active-duty service member buyers, and 18 percent of veteran buyers are first-time home buyers.
- Active-duty service member buyers were typically 35 years old, and veteran buyers were 59 years old.
- Eighty-three percent of active-duty service member buyers were married couples, eight percent single males, six percent unmarried couples, and two percent single females. Eighty percent of veteran buyers were married couples, eight percent single males, and single females and unmarried couples were both five percent.
- The most commonly purchased home type was a single-family home at 83 percent for active-duty service member buyers and 82 percent for veteran buyers. Eleven percent of active-duty service member buyers and six percent purchased of veteran buyers purchased a townhouse/row house.
- Prior to purchasing, 57 percent of active-duty service member buyers rented an apartment or house. Thirty-six percent of veteran buyers owned their previous home prior to buying.
- The main reason for their recent purchase was the desire to own a home of their own, for both active-duty service member buyers (37 percent) and veteran buyers (17 percent).
- Ninety-one percent of active-duty service member buyers and 80 percent of veteran buyers found photos to be very useful when searching for homes online.
- When searching for their home 87 percent of active-duty service members and 90 percent of veteran home buyers bought their home through a real estate agent or broker.
For more information on active-duty service members and veteran home buyers view the Veteran’s Day infographic, and highlights from the 2016 Profile of Home Buyers and Sellers.