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32. 1997 Economic Census





1206. Recent Home Buyers -- General Characteristics

[As of October. Based on a sample survey; subject to sampling variability]

 
CHARACTERISTIC Unit 1976 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
 
Median purchase price Dollars 43,340 68,714 78,220 82,500 90,000 89,400 90,400 93,680 99,260 121,910 129,800 131,200 134,300 141,000 141,900 145,400 147,700 153,200 159,700 167,900 175,400
  First-time buyers Dollars 37,670 61,450 63,180 58,900 73,100 81,500 75,100 74,700 84,730 97,100 105,200 106,000 118,700 122,400 121,100 125,000 128,300 130,100 135,400 142,200 150,300
  Repeat buyers 1 Dollars 50,090 75,750 82,220 98,300 101,800 100,400 106,200 114,860 115,430 141,400 144,700 149,400 152,500 158,000 159,600 163,500 164,300 170,700 178,700 189,800 195,700
Average monthly
mortgage payment Dollars 329 599 694 732 794 868 896 852 939 1,008 1,054 1,127 1,144 1,064 1,015 1,028 1,062 1,087 1,114 1,212 1,240
  Percent of income Percent 24.0 32.4 35.5 33.0 32.5 30.3 30.0 28.6 29.3 32.8 31.8 33.8 34.0 33.2 31.5 31.4 32.6 32.6 32.8 32.3 32.3
 
Percent buying--
  New houses Percent 15.1 22.4 25.2 23.2 26.4 22.3 23.8 25.7 23.8 26.2 21.8 21.2 19.7 20.5 22.3 22.0 21.5 22.7 20.9 21.2 22.7
  Existing houses Percent 84.9 77.6 74.8 76.8 73.6 77.7 76.2 74.3 76.2 73.8 78.2 78.8 80.3 79.5 77.7 78.0 78.5 77.3 79.1 78.8 77.3
  Single-family houses Percent 88.8 82.4 78.3 76.6 87.8 89.9 87.0 85.1 87.3 83.3 84.8 83.8 85.3 85.0 84.2 83.9 83.1 82.6 81.6 82.3 83.0
  Other houses 2 Percent 11.2 17.6 21.7 23.4 12.2 10.1 13.0 14.9 12.7 16.7 15.2 16.2 14.7 15.0 15.8 16.1 16.9 17.4 18.4 17.7 17.0
  For the first time Percent 44.8 32.9 39.4 40.6 40.5 37.7 36.6 35.5 36.8 37.8 40.2 41.9 45.1 47.7 46.0 47.1 46.2 44.7 46.8 46.2 44.7
 
Average age:
  First-time buyers Years 28.1 28.3 28.4 28.6 28.9 29.1 28.4 30.9 29.6 30.3 29.6 30.5 30.7 31.0 31.6 31.6 32.1 32.4 32.1 32.2 32.0
  Repeat buyers 1 Years 35.9 36.4 36.4 37.1 37.3 37.8 38.4 39.5 39.1 38.9 39.4 39.1 39.8 40.8 41.0 41.7 40.7 41.1 41.1 41.1 41.4
Downpayment/sales price Percent 25.2 28.0 24.1 22.4 22.9 20.9 24.8 23.4 27.2 24.0 24.4 23.3 22.6 21.4 20.2 20.2 20.4 19.5 20.3 19.3 19.5
  First-time buyers Percent 18.0 20.5 19.4 15.1 15.7 13.2 11.4 13.4 20.4 14.6 15.8 15.7 14.7 14.3 14.0 13.7 13.3 12.4 13.7 12.8 12.6
  Repeat buyers 1 Percent 30.8 32.7 27.1 27.3 27.8 25.6 32.7 28.9 31.3 29.7 30.3 28.9 29.1 28.0 25.4 26.1 26.8 25.3 26.1 24.9 25.5



1 Buyers who previously owned a home.
2 Includes multifamily, condominums and co-ops.

Source: Chicago Title Coorporation, Chicago, IL, Who's Buying Homes in America (copyright).

http://www.ctt.com/welcome.html



https://allcountries.org/uscensus/1206_recent_home_buyers_general_characteristics.html

These tables are based on figures supplied by the United States Census Bureau, U.S. Department of Commerce and are subject to revision by the Census Bureau.

Copyright © 2006 Photius Coutsoukis and Information Technology Associates, all rights reserved.