As you're probably well aware by this point, the pandemic has changed the real estate market a lot, particularly when it comes to pricing and favorable locations. But according to a new survey of more than 2,000 home sellers by real estate company Zillow, maybe things have changed less than you think — especially when it comes to sellers' demographics.
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"The typical U.S. seller is 45 years old, with about a quarter (24%) aged 60 or older. Most are partnered, married, or previously married, have at least some college education, and are most likely to sell a home in the South," writes Zillow in its report. "Demographic change tends to play out over a long time: Most of these characteristics have not changed substantially, if at all, over the last few years."
On a more granular level, Zillow reports that 17% of sellers are between 18 and 29 years old; 24% are between 30 and 39; 17% percent are between 40 and 49 and also between 50 and 59; and 24% are 60 and older.
"In other words, the age distribution of sellers represents somewhat of a middle ground when it comes to U.S. housing consumers: They are typically younger than tenured homeowners (with a median age of 56) who have not moved in the past year, but older than renters (age 33)," says Zillow.
When it comes to the locations of sellers, an astonishing 41% of survey respondents live in the South, while just 23% live in the West, 23% in the Midwest, and 13% in the Northeast. Zillow attributes this to the general distribution of the adult population in the U.S., noting that there's slightly more for-sale inventory in the housing markets down South and in the Midwest.
To learn more about Zillow's findings, including info on methodology, read the full report here.
Stefanie is a New York–based writer and editor. She has served on the editorial staffs of Architectural Digest, ARTnews, and Oyster.com, a TripAdvisor company, before setting out on her own as a freelancer. Her beats include architecture, design, art, travel, science, and history, and her words have appeared in Architectural Digest, Condé Nast Traveler, Popular Science, Mental Floss, Galerie, Jetsetter, and History.com, among others. In another life, she'd be a real estate broker since she loves searching for apartments and homes.