And in anticipation of this year’s Halloween release, NAR has released five noteworthy real estate trends over the past 35 years. Here they are:
- First-time homebuyer participation is depressed
- Real estate agents aren’t being replaced by the internet
- Buyers have been buying slightly bigger but the pace is at a standstill
- Down payments aren’t trending in recent years as they have over time
- Tight inventory has slowed the pace in the past 2 years, and the home search is taking longer
Check out the infographic below for further details on the above points.
The 2016 Profile of Home Buyers and Sellers is scheduled for release on Monday, Oct. 31.