The 2011 Profile of Home Buyers and Sellers describes the characteristics and motivations of recent home buyers and sellers in Maine and across the country. When examining a profile of those who actually purchased a home during the last twelve months it is interesting to review differences and similarities between the traits of buyers of homes in Maine versus other parts of the United States.
- 44% of recent home buyers were first-time buyers in Maine, compared to a national level of 37% – a drop from 50% in 2010
- The typical buyer in Maine was 43 years old, while nationally the typical buyer was 45 years old, a jump from 39 years old in 2010
- The 2010 median household income of buyers was $63,900 in Maine and $80,900 nationally. The median income was $52,500 among first-time buyers and $73,500 among repeat buyers, compared to $62,400 among first-time buyers and $96,600 among repeat buyers nationally.
- Nationally, 64% of recent home buyers were married couples – the highest level since 2001. In Maine, the figure was 53%. O recent home buyers, 18% were single females nationally – the lowest level since 2004; In Maine females represented 23%.
- For 27% of recent home buyers nationally, the primary reason for their recent home purchase was a desire to own a home. In Maine, this was the primary reason for 32% of home buyers.
Although Maine results track the national trend, it is interesting that in 2011 the percentage of first-time home buyers in Maine was considerably higher than the national average. The average age was also lower, which is not surprising.
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About the Author: Michael
Michael, along with his wife Laura, is co-owner of Maine Home Connection, an independent real estate company located in Portland. Maine. Together they started the brokerage from scratch with a new vision of what a company could look like if it focused completely on the needs of our clients and our agents.
