The real estate mural's nature is constantly evolving, tough to keep tabs on, and even tougher to predict. Agents need to stay on top of a host of different trends and factors — a challenge that'due south rarely straightforward.

To help make that process a little easier, we've compiled a list of 38 key statistics that comprehend some of the most pressing bug real estate professionals demand to have a pulse on — the practice'due south changing digital trends, potential clients' generational differences, and the impact of pandemic-related workplace shifts — with some perspective on what they mean for agents.

Let's dive in.

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Real Manor in the Digital Historic period Statistics

Realtor Technology Use

  • 96% of realtors use a smartphone with wireless email and internet capabilities on a daily ground. (NAR Real Estate in a Digital Age Report)
  • 95% of realtors use e-mail daily. (NAR Existent Manor in a Digital Age Report)
  • 57% of realtors utilize social media apps daily. (NAR Real Estate in a Digital Age Written report)
  • 69% of NAR members have a website. (NAR Real Estate in a Digital Age Report)
  • When communicating with clients, realtors most often prefer text messaging (93%), followed by telephone (90%), and electronic mail (89%). (NAR Real Estate in a Digital Age Report)
  • The top three tech tools that provide realtors with quality leads are social media (52%), CRMs (31%), and MLS sites (28%). (NAR Real Estate in a Digital Historic period Report)

What does this tell us?

Information technology appears that the existent estate industry is keeping pace with the ascent tide of digital transformation. Newer technology has become woven into the fabric of nigh realtors' day-to-day operations — with an increasing emphasis existence placed on social media activity and solid web presences for lead generation and brand awareness.

Realtor Social Media Utilise

  • 90% of surveyed social media-using realtors utilize Facebook. (NAR Real Estate in a Digital Historic period Report)
  • 52% of surveyed social media-using realtors utilize Instagram. (NAR Real Manor in a Digital Age Written report)
  • 48% of surveyed social media-using realtors apply LinkedIn. (NAR Real Estate in a Digital Historic period Written report)
  • 24% of surveyed social media-using realtors use YouTube. (NAR Real Estate in a Digital Age Report)
  • 19% of surveyed social media-using realtors use Twitter. (NAR Real Estate in a Digital Age Report)
  • viii% of surveyed social media-using realtors use Pinterest. (NAR Real Estate in a Digital Age Written report)
  • five% of surveyed social media-using realtors employ Tik Tok. (NAR Existent Estate in a Digital Age Report)
  • 5% of surveyed social media-using realtors use Snapchat (NAR Real Manor in a Digital Historic period Report)

What does this tell united states of america?

Social media-savvy real estate professionals appear to spend their time on more "mature" social media platforms that lend themselves to straightforward, potentially long-form communication for lead generation — namely Facebook and LinkedIn.

Still, other, less conventional platforms that can add a visual element to real estate promotion are also emerging. Instagram is the 2nd virtually popular social media forum for real estate agents, and more are looking to YouTube equally a ways of promoting their brands and gaining traction.

Real Estate Trends past Generation

First-Time Home Buyer Statistics past Age

  • First-time buyers fabricated up 31% of all home buyers in 2020. (NAR 2022 Home Buyers and Sellers Generational Trends Report)
  • 82% of buyers anile 22 to 30 years were first-fourth dimension homebuyers in 2020. (NAR 2022 Dwelling Buyers and Sellers Generational Trends Study)
  • 48% percent of buyers aged 31 to 40 were start-fourth dimension home buyers in 2020. (NAR 2022 Home Buyers and Sellers Generational Trends Report)
  • 22% of buyers anile forty to 54 years one-time were get-go-time home buyers in 2020. (NAR 2022 Home Buyers and Sellers Generational Trends Written report)

What does this tell u.s.a.?

These statistics are more or less in keeping with what you would await when it comes to who's ownership homes for the outset time — younger buyers are less likely to already have owned a home than older ones.

Notwithstanding, there'due south something to exist said for the fact that roughly half of older millennials (buyers aged 31 to 40) are buying their first home. If yous're trying to tailor your efforts to adapt first-time buyers, trying to ameliorate empathise millennials' interests, priorities, and typical fiscal circumstances.

Millennial Real Estate Statistics

  • Buyers 22 to 30 years (Younger Millennials) and buyers 31 to forty years (Older Millennials) make upwardly the largest share of home buyers at 37%. (NAR 2022 Dwelling Buyers and Sellers Generational Trends Report)
  • Older Millennials purchasing homes had the highest share of married couples at 69%. (NAR 2022 Domicile Buyers and Sellers Generational Trends Study)
  • 28% of Younger Millennials did apply a souvenir or a loan from a friend or relative to purchase their home. (NAR 2022 Abode Buyers and Sellers Generational Trends Report)
  • 43% of Younger Millennials reported having student loan debt with a median loan balance of $25,000 (NAR 2022 Home Buyers and Sellers Generational Trends Report)
  • 37% of Older Millennials reported having student loan debt with a median loan rest of $33,000. (NAR 2022 Dwelling Buyers and Sellers Generational Trends Report)

What does this tell us?

Millennials are the future of home-ownership. That 37% figure is almost inevitably going to expand as millennials go older, aggrandize their savings, and presumably pay off educatee loan debts.

Every bit a real estate agent, it's going to serve yous to brace for that shift. Again, do what y'all can to understand what millennials are looking for out of the real estate market.

Generation X Existent Estate Statistics

  • Buyers 41 to 55 consisted of 24% of recent home buyers. (NAR 2022 Home Buyers and Sellers Generational Trends Report)
  • Generation X is the highest-earning generation of home buyers with a median income of $113,300 in 2019. (NAR 2022 Domicile Buyers and Sellers Generational Trends Written report)
  • Buyers xl to 54 purchased the second-nigh expensive homes at a median home price of $305,000. (NAR 2022 Habitation Buyers and Sellers Generational Trends Study)
  • Gen 10 buyers were the most likely generation to have children under the historic period of 18 at 61%. (NAR 2022 Dwelling Buyers and Sellers Generational Trends Report)
  • Gen X buyers were the nearly likely to purchase a multi-generational dwelling house at 18%. (NAR 2022 Home Buyers and Sellers Generational Trends Written report)

What does this tell us?

Information technology might go without maxim, but Generation 10's higher median income and inclination to purchase more expensive homes make them one of the most profitable generations for existent estate agents to pursue.

Baby Boomer Existent Estate Statistics

  • Baby Boomers make up the largest share of sellers at 43%. (NAR 2022 Dwelling Buyers and Sellers Generational Trends Report)
  • Younger Boomers (age 57 to 66) have typically owned their home xiv years earlier selling. (NAR 2022 Home Buyers and Sellers Generational Trends Report)
  • Older Boomers (age 67 to 75) owned their home xvi years earlier selling. (NAR 2022 Dwelling house Buyers and Sellers Generational Trends Written report)
  • Older Boomers were most probable to purchase a newly built home at nineteen%. (NAR 2022 Domicile Buyers and Sellers Generational Trends Study)
  • Baby Boomers expect to own their homes for the longest period of time of 20 years. (NAR 2022 Home Buyers and Sellers Generational Trends Report)
  • Buyers 66 to 74 typically moved the furthest distance to new homes at a median of 35 miles. (NAR 2022 Home Buyers and Sellers Generational Trends Report)
  • Buyers 56 to 65 moved a median of 22 miles to a new dwelling. (NAR 2022 Home Buyers and Sellers Generational Trends Report)

What does this tell us?

At this indicate, Boomers are more likely to sell homes than other generations — and then if y'all're interested in working with sellers rather than buyers, you'll likely be dealing with them.

But when they practice buy homes, many Boomers are inclined to purchase newly congenital, potentially pricier houses than their counterparts in younger generations. So don't exist too quick to count them out and focus on younger markets — Boomers still nowadays plenty of lucrative opportunities for agents.

The Bear upon of Pandemic-Related Office Shifts on Commercial Real Manor

Piece of work Preferences' Impact on Commercial Existent Estate

  • 65% of commercial existent estate professionals reported more businesses leasing or moving into offices with smaller square footage in 2021. (NAR Commercial Market Insights Report)
  • 70% of commercial existent estate professionals reported seeing more companies adopting working from home or staggered work schedules. (NAR Commercial Marketplace Insights Report)
  • 54% of commercial real estate professionals reported companies are paying for employees' expenses to enable them to efficiently work at home. (NAR Commercial Market Insights Report)

What does this tell usa?

The pandemic's impact on work preferences is reflected in companies' shift to smaller offices or completely remote operations — shaping a new landscape for commercial existent estate agents selling role space. If you work that niche, y'all're probably already hip to that alter. If not, information technology's something you should remain mindful of.

The pandemic (hopefully) won't final forever, so the pendulum might shift back to companies occupying larger office spaces as those kinds of environments go safer and more commonplace.

The real estate manufacture is never static — and if yous want to proceed up with it, you lot demand to stay on elevation of emerging trends in both the practice's broader mural and your niche within it. It's a fast-paced field, so consistently conducting research on how it's shifting is in your best interest if you want to be the best agent you lot can be.

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Originally published Oct 29, 2022 seven:00:00 AM, updated Oct 29 2021