2020 Real Estate Market Fast Facts
2020 REAL ESTATE MARKET FAST FACTS
Your quick guide to the national real estate market in 2020 — by the numbers!
Median Home Price: $257,000
Median Length of Time Homes Are on the Market: 3 Weeks
Time it would take for all homes currently on the market to sell: 3.9 Months
Mortgage Rates: Remain historically low, helping new buyers enter the market. Average 30-Year Fixed Mortgage Rates since 2010
Home Buying in 2020
33% of all buyers are first-time buyers. 59% of first-time buyers are
18-34 years old.
Buyers typically searched for 10 weeksand looked at an average of 9 homes.
44% of buyers looked online first
for properties listed in their area.
75% of non-owners see homeownership
as a part of their American Dream.
78% of non-owners believe homeownership is a good financial decision.
Home Selling in 2020
Sellers sold their homes for a
median of 99% of the final listing price.
23% reduced asking price at least once.
In 2019, sellers were getting a median of $60,000 more than what they purchased the home for — in 2018, that amount was $55,500.
31% is the median amount of equity a seller had in the home.
Winning Through Referrals
41% of buyers used an agent referred to them by a friend, neighbor or relative.
66% percent of sellers found their agent through a referral from a friend or family member, or used the same agent they had worked with the last time they bought or sold a home.
90% of buyers and 70% of sellers would use their agent again or refer them to others.
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