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Americans Rely on Agents to Navigate the Housing Market

  • Mortgage Returns
  • Nov 12, 2024
  • 1 min read

Updated: Nov 13, 2024

Plus, discover an emerging trend in homebuying.

Market Perspective: Fast Facts About the Housing Market. Title overlaid on a picture of a suburban neighborhood in the fall.
88% of home purchases went through an agent or broker in 2024. What do buyers want most from their real estate agents? Help finding the right home. 86% of buyers relied on their agent to find a home. 80% of first-time buyers said their agent was invaluable in helping them understand the process. Connections & first impressions count. 40% of buyers were referred to their agent by a friend, neighbor or relative. Most buyers and sellers interviewed only one agent before making a decision.
Homebuying with extended family is becoming more common. Multigenerational home purchases reached an all-time high in 2024, representing 17% of homebuyers. Reasons for buying a multigenerational home included cost savings, caring for aging parents, children or adult relatives moving back home, and children over 18 who never left home. Buyers continue to believe in the value of purchasing a home. 79% see homebuying as a good investment and of those buyers, 39% saw this as better than stock ownership.
Source: National Association of Realtors® (NAR), Profile of Buyers and Sellers 2024.

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