Share
Looking for quick statistics for your sales meeting or a customer brochure? Need a quick fact to make your point? Member Support has compiled some of the most requested statistics for quick and easy access. Find the information that you need, as well as its source, at a glance.
Overview of the Real Estate Market
- 4,090,000 existing homes were sold in 2023, according to data from the National Association of REALTORS®. Sales of new single‐family houses in May 2024 were at a seasonally adjusted annual rate of 619,000, according to the U.S. Census Bureau.
- There are over 360,000 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: 2022).
- Preliminary results from the U.S. Energy Information Administration's Commercial Buildings Energy Consumption Survey (CBECS) show that there were 5.9 million commercial buildings in the United States in 2018, comprising 97.0 billion square feet of floor space.
- There are approximately 125.7 million occupied housing units in the United States, according to the 2022 American Community Survey.
- According to the 2023 Profile of Home Buyers and Sellers, the typical home seller has been in their home for 10 years. The typical home size is 1,860 square feet. The typical The typical first-time buyer was 35 years old this year, slightly down from 36 last year, while the typical repeat buyer age fell to 58 years from an all-time high of 59 years.
- In 2022, 66.1% of families owned their primary residence, according to the Federal Reserve's Survey of Consumer Finances.
REALTOR® Demographics
- Sixty-five percent of REALTORS® were licensed sales agents, 22 percent held broker licenses, and 17 percent held broker associate licenses.
- The typical REALTOR® is a 55-year-old white female who attended college and is a homeowner.
- 65% of all REALTORS® are female, and the median age of all REALTORS® is 55.
- Real-estate experience of all REALTORS® (median): 10 years
- 73% of REALTORS® were very certain they will remain active as a real estate professional for the next two years.
- Median tenure at present firm (all REALTORS®): 5 years
- Most REALTORS® worked 35 hours per week in 2023.
- The median gross income of REALTORS®—income earned from real estate activities—was $55,800 in 2023, a decrease from $56,400 in 2022.
- Median number of transaction sides in 2023:
- Residential sides for all REALTORS®: 10
- Residential sides for residential specialist broker/broker associates only: 12
- Residential sides for residential specialists only: 10
- Residential sides for commercial specialists only: 3
- Commercial sides for commercial specialists only: 4
- Formal education of REALTORS®:
- Some college: 27%
- Bachelor's degree: 34%
- Graduate degree and above: 13%
- Associate degree: 13%
- Some graduate school: 5%
- High-school graduate: 7%
- REALTOR® affiliation with firms:
- Independent contractor: 88%
- Employee: 5%
- Other: 8%
Source: 2024 NAR Member Profile (National Association of REALTORS®)
Statistics on REALTORS® and Technology
- REALTORS® most often prefer to communicate with their clients through text messaging, at 94%. Ninety-one percent preferred to communicate via telephone, and 89% through e-mail.
- 64% of broker/broker associates and 73% of sales agents have a website.
- 82% of members have their own listings on their website, 70% have information about buying and selling, and 65% have a link to their firm's website.
- 77% of REALTORS® use Facebook and 55% use LinkedIn for professional purposes.
- 19% of all members get 1-5% of their business from social media, and 10% get 6-10%.
- Of the members that use drones in their real estate business of office, 46% hire a professional, 12% have someone in their office that uses drones, and 6% personally use drones. 18% do not use drones.
Source: 2024 NAR Member Profile (National Association of REALTORS®)
Home Buyer Statistics
- First-Time vs. Repeat Buyers:
- First-time buyers: 32%
- Median age of first-time buyers: 35
- Median age of repeat buyers: 58
- Median household income of first-time buyers: $95,900
- Median household income of repeat buyers: $111,700
- The typical home purchased was 1,860 square feet in size, was built in 1985, and had three bedrooms and two bathrooms.
- Among those who financed their home purchase, buyers typically financed 85% of the home price.
- 89% of buyers purchased their home through a real estate agent or broker.
- Buyers who would use their agent again or recommend their agent to others: 90%
- Where buyers found the home they purchased:
- Internet: 52%
- Real estate agent: 28%
- Yard sign/open house sign: 4%
- Friend, relative, or neighbor: 8%
- Home builder or their agent: 6%
- Directly from sellers/Knew the sellers: 3%
- Print newspaper advertisement: less than 1%
Source: 2023 Profile of Home Buyers and Sellers (National Association of REALTORS®)
Home Seller Statistics
- The typical home seller in 2023 was 60 years of age, had a median household income of $111,100, 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 100% of the listing price, and 32% reported reducing the asking price at least once.
- The typical home sold was on the market for 2 weeks.
- 39% 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: 73%
Source: 2023 Profile of Home Buyers and Sellers (National Association of REALTORS®)
For Sale By Owner (FSBO) Statistics
- FSBOs accounted for 7% of home sales in 2023. The typical FSBO home sold for $310,000 compared to $405,000 for agent-assisted home sales.
- FSBO methods used to market home:
- Friends, relatives, or neighbors: 20%
- Yard sign: 19%
- Third party aggregator: 14%
- Social networking websites: n/a
- For-sale-by-owner website: 5%
- Open house: 7%
- Online classified ads: 4%
- Multiple Listing Service (MLS) Website: 5%
- Other website with real estate listings: 1%
- Video hosting websites: 1%
- Most difficult tasks for FSBO sellers:
- Preparing/fixing up home for sale: 4%
- Getting the right price: 15%
- Understanding and performing paperwork: 7%
- Selling within the planned length of time: 7%
- Having enough time to devote to all aspects of the sale: 4%
- Attracting potential buyers: 4%
- Helping buyers obtain financing: 5%
Source: 2023 Profile of Home Buyers and Sellers (National Association of REALTORS®)
Other Recommended Sources for Data on Real Estate:
The Economists' Outlook blog provides insight into NAR Research's reports and analyzes how various economic indicators affect the real estate market.
NAR's State-by-State Economic Impact of Real Estate Activity examines real estate markets in each state and analyzes their contribution to the economy.
The Research & Statistics section of nar.realtor includes links to recent surveys and reports available from NAR.
U.S. Housing Market Conditions is published quarterly by the U.S. Department of Housing & Urban Development, providing numerous housing market statistics from the federal government and other organizations.
The State of the Nation's Housing, from the Joint Center for Housing Studies of Harvard University, is an annual review of housing markets in the U.S., including data on demographic trends and economic conditions.