Monday Market Update: 2023 Buyer & Seller Snapshots

As the end of the year approaches, many real estate industry organizations are compiling data on where the housing trends have been and where they are headed. The California Association of Realtors® has just released the 2023 Buyer & Seller Snapshots – view them here!

While there are many key take-a-ways and generalizations that can be drawn from this large amount of data, these are the 3 that stood out to us.

#1: Both buyers & sellers feel that the biggest asset an agent provides is negotiating expertise. 40% of buyers and 32% of sellers consider ‘negotiating the terms of the sale’ the top service that an agent provides.

#2: The median age of buyers and sellers may be older than most of us may think. The median age of a seller is 60, while the median age of a buyer is 45. That would indicate that most parties in a real estate transaction are mid to late career vs. just starting out or early career stage in their lives.

#3: Home ownership continues to be a cycle, with 64% of buyers being repeat buyers, and 48% of sellers planning to buy another home. Real estate as an asset class is something we have talked about for years – and home as an investment is still a value that holds true to many individuals & families today.

Did any of these statistics surprise you? We were somewhat surprised that only 9% of sellers valued an agent’s key role as marketing their property, and that only 11% of buyers felt managing the transaction was a top service.

Happy end of October… celebrate safe tomorrow if you are out & about for Halloween!

Bobbi & Team 

Bobbi Decker
DRE#00607999

Broker Associate, Bobbi Decker & Associates
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
NAR Instructor….“Designations Create Distinctions”
CIPS, SRS, ABR, CRS, SRES, GRI, CLHMS, REI, AHWD, RSPS, MSLG

Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/