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Most homebuyers are middle-aged, married, and living in the south - likely a suburb.
The American Dream of a house with a white picket fence and a dog in the yard is hanging by a thread this year.
Record-low mortgage rates and the era of remote work kicked off hot demand for a home that collided headlong with a historic housing shortage, resulting in real estate that was nearly unattainable. Sky-high prices and fewer homes available have been no match for homebuyers, who've found themselves caught in cutthroat competition.
But some came out on top in bidding wars. Zillow's 2021 Consumer Housing Trends Report took a look at homebuyers in 2021. It found that while the average homebuyer is middle-aged, many are in their 30s. For most, it wasn't their first time buying a home, and the hunt wasn't easy. Many had to make multiple offers and paid a lot more than they originally planned.
They mostly bought homes in the suburbs in the south, where more houses were available. Those who moved typically stayed in their metro area, switching neighborhoods or relocating to a nearby city.
Here's a look at the typical homebuyer, according to the Zillow report.
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The average homebuyer is 45 years old, but about a quarter of buyers are in their 30s.
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They're also typically white.
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They earn more than the overall US population, with a median household income of about $86,000.
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They're also more educated than the total population of US household decision-makers.
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The typical homebuyer has their own family; they're married or partnered with kids and a pet.
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Most homebuyers are living in the south, where more houses are available.
Austin, Texas.
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Despite stories of a mass exodus from big cities, most homebuyers bought within their metro areas - although some changed neighborhoods or cities.
Most Manhattanites who moved relocated to Brooklyn.
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And they're typically residing in the suburbs.
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The typical homebuyer bought a three-bed, three-bath single-family detached home between 1,000 and 1,999 square feet.
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For most 2021 homebuyers, this wasn't their first rodeo.
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The typical homebuyer had to make multiple offers when house hunting - they typically went over budget once they bought their house.