The brand new 2024 NAR Profile of Home Buyers and Sellers: Your Ultimate Guide to the Real Estate Landscape is the most current and comprehensive resource for anyone navigating the real estate market—today and into the future.
Produced by NAR’s renowned research staff, this updated profile delves into the intricate details that are driving the industry while revealing trends shaping the market and offering new opportunities for real estate practitioners in 2025.
Here’s a quick breakdown of key insights and how you can leverage these findings to boost your business:
First-Time Buyers Are Struggling—But They're Older and Wealthier
First-time homebuyers now make up just 24% of the market—an all-time low. But these buyers are older and more financially stable, with median incomes of $97,000.They're seeking expert guidance to navigate today’s high home prices, interest rates and limited inventory.
What it means for you: Position yourself as the go-to expert for first-time buyers. Offer tailored advice on down payment assistance, financing options and how to make competitive offers.
Pro tip: Discover AI superpowers available to real estate professionals and learn actionable strategies to future-proof your business in the new webinar Beacons of Real Estate: Tools to Thrive in the Age of AI.
Cash Is King—26% of Buyers Paid in Cash
In today’s market, a record 26% of buyers paid cash, with repeat buyers tapping into equity for all-cash deals. Cash offers are more common than ever, making the market even more competitive.
What it means for you: Help your clients compete by highlighting creative financing options for non-cash buyers. For sellers, emphasize the benefits of accepting cash offers to close faster and with fewer complications.
Pro tip: Take advantage of 111 Lead Generation Techniques to help build up your clientele and acquire a consistent supply of qualified buyers and sellers—no matter how they will be paying for their home.
Multigenerational Homes Are on the Rise
17% of buyers are purchasing multigenerational homes—more than ever before. The main reasons? Cost savings and accommodating aging parents or adult children. This trend offers new opportunities to target a growing niche.
What it means for you: Focus on properties with flexible layouts, multiple living areas and room for extended families. Cater your marketing to multigenerational buyers looking for these features.
Down Payments Are Larger—Especially for Repeat Buyers
The median down payment is now 18% for all buyers, but repeat buyers are paying 23%. First-time buyers, though, are struggling with just 9% down. Many rely on gifts or loans from family.
What it means for you: Make sure you’re well versed regarding down payment assistance programs for first-time buyers and help repeat buyers use their equity to get into their next home.
REALTORS® Are More Essential Than Ever
86% of buyers worked with a real estate agent, more than any other source of information, and 88% of clients would recommend their agent to others—clear indicators that your expertise is in high demand.
What it means for you: Double down on providing exceptional service. Be the trusted expert who guides clients through the complexities of the current market, ensuring smooth transactions and long-term relationships.
Pro tip: Let The INth Degree: How to Stand Out by Going All In inspire you to up your real estate game with a proven system that helps you uncover and amplify your unique strengths.
The Bottom Line: Opportunity Awaits
The new 2024 NAR Profile of Home Buyers and Sellers reveals market shifts and new realities for 2025 with unique opportunities for savvy real estate professionals. Whether you’re working with first-time buyers, cash investors or multigenerational families, there’s a niche to target—and you can put yourself in a prime position to close more deals.
Rely on essential resources from The REALTOR® Store, including The Dragon and the Goat: How to Turn Fear into an Ally and Design a Life of Profit, Joy and Fulfillment to build confidence, expand your expertise and enhance your marketing so you’ll be ready to turn those market trends into sales!
About the Author
Dylan Poe is the Manager of Product Marketing for the Strategic Business Innovation and Technology team at the National Association of REALTORS®, where he oversees product development and management. With a deep understanding of the challenges and opportunities within the real estate industry, Dylan works to provide NAR members with valuable resources and tools to support their success. Passionate about helping real estate professionals grow their businesses, Dylan regularly contributes insights on industry trends and strategies through the REALTOR® Store blog.
