Why 'House Hunters' Gives a False Idea of Today's Buyers
Update: 2016-09-30
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I can't begin to count how many times I've come home from work to find my wife watching House Hunters. There's nothing quite like coming home from a long day's work to watch, well, work. Not to mention the fact that it's a reality TV show that's not even close to reality.
Sadly, House Hunters is completely fake. That's right – the buyers you see are actually "touring" a house they've already bought, then going on fake tours of two other houses.
So what does a home buyer in 2016 really look like? Well, unlike on House Hunters where the buyers look at three homes, the National Association of Realtors says that the average time a person spends looking for a home is eight to 11 weeks.
There's just something about pulling up to your own home every day.
Another interesting fact is that at least 80% of buyers under the age of 60 buy a single-family home. The number one reason cited for buying a home was the desire to own a home of their own. I can attest to that – there's just something about pulling up to my home every single day. It really is a true sense of pride.
When it comes to actually buying the home, overall, 88% of buyers finance their home purchase, and nearly 97% of buyers from Generation Y used financing. Generation Y buyers are also the most active buyers, purchasing 32% of all homes available on the market in 2015.
I hope that gives you a better picture of what a buyer is really like in today's market rather than some phony reality TV show. If you have any more questions about today's buyers or you're looking to buy or sell a home in the Boston area, give me a call or send me an email. I'd love to speak with you.
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