35 years of data is a lot to handle, especially when it comes to the housing market. The National Association of Realtors (NAR) has been surveying and compiling data for a while now and release
an annual report right around Halloween. NAR gave us a quick snapshot of trends:
- 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
NAR also put together an info graph comparing the housing market from then and now – pretty interesting stuff!