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The Top 10 Reasons Consumers Bought Homes in 2015

by Peter Thomas Ricci

homebuyers-2015-nar-reasons-for-purchase-desire-to-own-first-time-repeat

Why did U.S. consumers decide to buy homes in 2015? That question was one of many that NAR’s 2015 Profile of Home Buyers and Sellers tackled, and the results were many and varied – especially when the consumers’ disposition was considered.

Take, for instance, the desire to own a home, which was cited by 30 percent of all consumers as the reason they purchased a property this year. Among repeat buyers, only 13 percent were driven by that desire, but among first-time buyers, the share skyrocketed to 64 percent.

Similarly divided was the desire for a larger home. Only 4 percent of first-time buyers were determined to buy a large property, compared with 13 percent of repeat buyers and 10 percent of all buyers.

See our infographic below for the top 10 reasons consumers purchased in 2015, along with how those reasons differed by the type of buyer:

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