There were quite a few homes that sold during 2017. While most of these were existing homes, new home constructions were also available for sale. When prospective buyers are searching for a home for sale, there are a variety of methods from which to choose.
Existing and New Home Construction Sales for 2017
According to the U.S. Census Bureau, there were 5.51 million existing homes and 612,000 new home constructions that sold during 2017. While some of these homes may have been on the market for more or less time, the National Association of Realtors (NAR) reported that the typical home was sold after three weeks.
Locating Homes for Sale
NAR indicates that buyers found houses for sale in a variety of ways. While 50% of prospective buyers found their new home on the Internet, 28% worked with a real estate agent. A smaller percentage, or seven percent of buyers, located their new home due to seeing a yard or open house sign. Friends, relatives, or neighbors were also a source for seven percent of buyers. Five percent of home builders and/or their agents were a source for locating homes. While two percent of buyers bought a house directly from the sellers due to knowing or otherwise being acquainted with them, just one percent located their house in a print newspaper advertisement.
Working With a Real Estate Agent
Many buyers and sellers choose to work with a real estate agent to simplify and streamline the process. Realtors can be an exceptional and welcome resource when buyers are looking for a specific type of neighborhood. The same holds true when they have a list of desired features.
According to the NAR, 39% of people selling their home were referred to their agent by family or friends. For homeowners that had previously bought or sold a home, 24% used their previous agent. It’s interesting to note that 74% of buyers would recommend their agent to other prospective buyers or sellers. These individuals would also use the same agent the next time they planned to buy or sell a house.
Contact a Real Estate Company to Learn More
There are several reasons why you would choose to work with a realtor. In addition to being aware of the local market, realtors also know about school districts, shopping areas, and sites of interest. If you’re planning to buy a house or sell a house, a real estate company can assist you with this process. Furthermore, if you’re selling your existing home prior to purchasing a new one, a real estate company will provide you with important tips on preparing your home for sale, such as landscaping.