*Note: The data in this report references a survey taken of homebuyers who purchased their home between July 2018 and June 2019.
Millennials bought more homes than any other generational classification, while the 40 to 54 age range had the most racially diverse group of homebuyers. Married couples made up 61% of homebuyers, making them the largest relationship demographic buying homes.
35% of buyers had children under 18 living with them.
33% of all homebuyers were first-timers homebuyers.
If you’re ready to buy a home, PRMI can help with the financing. We offer a variety of loan products so we can find the one that suits you.
87%
of homebuyers purchased previously owned homes.
83%
of homes purchased were detached single-family homes.
12% of homebuyers bought multigenerational homes.
>85% of homebuyers used financing.
60% of people saved for a down payment.
38% of people used money from selling their previous home to make a down payment.
62% of homebuyers financed using conventional loans.
When you’re ready to talk financing, give PRMI a call. We can help you sort through a variety of financing options, from traditional and adjustable rate loans to VA, FHA and USDA loans. We even offer financing options with no down payment. Let us help you finance your home. *Closing costs and fees may still apply.
Most homebuyers searched online for available properties as their first step. Finding the right home generally took about 10 weeks. On average, homebuyers viewed nine homes during the shopping process. More than half of the homebuyers said finding the right home was the hardest part.
>85%
of homebuyers used financing.
60%
of people saved for a down payment.
38%
of people used money from selling their previous home to make a down payment.
62%
of homebuyers financed using conventional loans.
>84%
of buyers searched for homes online.
89% of homebuyers used an agent.
If you’re ready to buy a home, PRMI can help with the financing. We offer a variety of loan products so we can find the one that suits you.
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by Primary Residential Mortgage, Inc. NMLS#: 919520 Utah DRE Mortgage Office License # 8335595. MLO 0117736. MC3094-122. All loans subject to credit and property approval. PRMI NMLS 3094. PRMI is an Equal Housing Lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.
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