How Homebuying Habits Are Changing, Useful Website Features, and Stats About Your Peers

June 01, 2018

Nearly all first-time buyers say technology will play a role in researching (98%), getting a mortgage (94%), and negotiating and buying a home (92%), according to the 2018 Bank of America Homebuyer Insight Report. The report also shows:

52% of respondents would or have already applied for a mortgage via a mobile device or online
Of those who would not apply for a mortgage digitally, 62% would rather work with a person, and 41% have privacy concerns
First-time buyers in Austin and Dallas-Fort Worth are more likely (60% and 51%, respectively) to share their home purchase on social media than nationally (43%)

Texas homebuyers say these are “very useful” features on websites where they search for properties (respondents could select more than one choice):

Property photos 88%
Detailed property info 82%
Floor plans 55%
Virtual tours 49%
Neighborhood info 46%

51% of Texas REALTORS® who specialize in property management manage at least 100 properties.

23% of Texas REALTORS® own at least one commercial investment property.

Sources: 2017 Profile of Texas Homebuyers and Sellers; 2017 Profile of Texas REALTORS®

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