We take an in-depth look at who's buying, who's selling, which properties are the most attractive, and how people are dealing with the entire process.
What is a typical Florida home buyer or seller like?
Every year, the National Association of Realtors conducts a thorough investigation of who is buying and selling homes. Facts and figures about Florida buyers and sellers included in the report provide insight into the Sunshine State's unique housing market.
Here are some highlights from our latest 2023 report.
Characteristics of Florida home buyers
- First-time buyers accounted for 20% of Florida homebuyers, compared to 32% nationally.
- The typical buyer was 60 years old and had an average income of $103,100.
- 64% of recent buyers were married couples, 17% were single women, 11% were single men, and 6% were unmarried couples.
- In Florida, 83% of home buyers did not have children under 18 living with them. Nationally, 70% of homebuyers did not have children under 18.
- 11% of homebuyers are looking for multi-generational buyers to help their children over 18 move home, to take care of aging parents, to cut costs, and to spend more time with aging parents. I bought a house.
Features of the Florida home I purchased
- 30% were buyers of newly built homes, and 70% were buyers of previously owned homes. Only 13% of buyers purchased new homes across the United States.
- Single-family detached homes continue to be the most common home type for recent buyers, at 76%.
Home buying and real estate experts
- Recently, 83% of buyers purchased a home through a real estate agent or broker, and 14% purchased directly from a builder or builder's agent.
- 72% of buyers say they would use their agent again or recommend their agent to others.
Financing a home purchase
- First-time buyers who financed a home typically financed 95% of their home, compared to 79% for repeat buyers.
- Forty-eight percent of buyers financed their down payment from savings. Forty-seven percent of buyers said they would use proceeds from the sale of their primary residence, making it the second most commonly reported method of securing a down payment.
- Buyers continue to believe that buying a home is a good financial investment. 81% said they think buying a home is a good investment.
Home sellers and their sales experience
- For all sellers, the most common reason for selling a home was retirement (19%), followed by a desire to move closer to friends and family (18%).
- Sellers typically have lived in their home for six years before selling.
Home sales and real estate experts
- 67% said they would definitely or probably (17%) recommend an agent for future services.
- 82% said the level of service provided by real estate agents is comprehensive service and management of most aspects of home sales.
Click the blue button below to download the full report. If you are visually impaired and need assistance reading the report, please contact the Florida Realtors Research Department at research@floridarealtors.org or 407.438.1400.