The Home Search Process (2004-2013)


The Home Search Process (2004-2013)

Looking at the interactive graph below, there is an obvious increase of people who started their home search online. Indeed, the share of people using the Internet has increased by 28% since 2004. In 2013, 48% of first-time home buyers and 40% of repeat home buyers used the Internet in their home search process.

Real estate agents are mostly preferred by first-time homebuyers for their initial housing search. Especially last year, there was an increase of the first-time home buyers who asked for the services of a real estate agent. This trend shows how increasingly important is the role of real estate agents when there is limited inventory on the market.

Hover over the line graph to see the distribution for each one of the types of home buyers. If you are interested in a particular type of home buyer, please tap on it (see list on the top right corner of the dashboard).

At state level, in Nevada (2013), Arizona (2011, repeat home buyers) and South Carolina (2004, first-time home buyers) more than 60% of the home buyers preferred to use a real estate agent when they first started their home search. Conversely, New Hampshire (2013), Kentucky (2013, repeat home buyers) and Massachusetts (2013 and 2011, first-time home buyers) had more than 60% of home buyers who started searching for home online.
Please select your state and see what the first step in the home buying process was for your state.

Next Release:
2014 Home Buyers and Sellers Survey will be released in November and we will look for any fresh trends in the data.

Methodology:
Data were used from the Home Buyers and Sellers Surveys for the period 2004-2013. The sample includes home purchases for primary residence use only. In order to be considered, a state needed to have sufficient response data for each one of the types of home purchase (first-time and repeat).

Posted in Economist Commentaries, by on October 13, 2014


About Brian Heafy

After a 30 year career in the information technology/professional services industry Brian began his second career as a real estate professional in 2012.

Brian began his career in 1982 with the United States Marine Corps as a systems analyst providing software project management and implementation services to Marine Corps Aviation Logistics Squadrons in Iwakuni, Japan and later as a defense contractor assigned as lead technical program manager to the Navy Management Systems Support Office in San Diego.

Brian went on to serve as technology manager for the City of Coral Springs, then joined a publicly traded government (ERP) software and professional services provider in Lake Mary, Florida as VP of the company’s Public Safety & Justice Systems group where he and his teams supported over 450 small, medium and large Police, Fire, Courts and EMS agencies across the U.S. and Caribbean. Brian also served in technology management positions supporting commercial off the shelf software enterprise resource management systems finance and administration application software and public safety and justice systems application software projects for the City of Orlando and Orange County Clerk of Courts.

Brian’s in-depth understanding of governmental operations and contract management is a benefit to his real estate clients, so much of what gets accomplished in today’s real estate industry deals with understanding government databases, brokerage disclosures, banking and governmental regulations each with their own set of established procedures – at all levels of government (local, county, state, federal).

Brian holds a Bachelor’s degree in Business from Barry University. A Licensed Florida Real Estate Broker and member of the Greater Orlando Regional Realtors Association, member of the Marine Corps Association and former Web Sergeant for the United States Marine Corps League in Orlando, Florida. A native Floridian Brian and his wife Yoshiko have been married over 32 years and have two grown children.