For many people, purchasing or selling a home isn’t just about the property itself—it’s about navigating significant life changes. Whether it’s expanding a family, downsizing, relocating, or simply investing in a dream, the trends shaping today’s real estate market reflect both personal priorities and broader societal shifts. Let’s dive into the key takeaways from the latest National Association of REALTORS® (NAR) survey to see what they reveal about buyers, sellers, and the homes they choose.

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Evolving Trends Among Home Buyers

First-Time Buyers Are Aging and Shrinking in Numbers

First-time buyers now account for just 24% of the market—a sharp drop from 32% last year and the lowest share since data collection began in 1981. Notably, the median age for these buyers has risen to 38 years, a significant leap from 35 in 2023. With factors like rising home prices and financial challenges, younger generations face steeper barriers to homeownership.

Demographics Reflect Changing Dynamics

The majority of buyers—62%—are married couples, while single women outnumber single men (20% vs. 8%). Interestingly, 73% of buyers do not have children under 18 living at home, marking a record high. Multigenerational homes remain popular, driven by cost-sharing, eldercare needs, and adult children moving back home.

Home Choices Are Practical, Not Flashy

While 85% of buyers opt for previously-owned homes, new homes still attract buyers looking to avoid renovation headaches. Detached single-family homes remain the top choice (75%), reflecting a desire for privacy and space.

The Search Is Tech-Driven and Agent-Assisted

For most buyers, the journey starts online—43% begin by browsing listings on the internet. Yet, 86% still turn to real estate agents for guidance, underscoring their indispensable role. Buyers spend a median of 10 weeks searching, with professional advice often making or breaking the experience.

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What Motivates Sellers to List Their Homes?

Sellers Are Staying Put Longer

Sellers are holding onto their homes for a median of 10 years, significantly longer than the average tenure of six years reported two decades ago. This shift reflects a cautious approach in the face of economic uncertainties.

Top Reasons for Selling

The desire to move closer to friends and family motivates 23% of sellers, while others cite changing needs, such as a home that’s too large or too small. These personal reasons outweigh purely financial incentives, such as rising property values.

Sellers Trust Real Estate Professionals

A whopping 90% of sellers work with agents, often someone they know or have previously worked with. Sellers value agents who can effectively market their property, price it competitively, and close the deal within their timeline.

FSBO Declines Further

For-sale-by-owner (FSBO) listings hit an all-time low of 6%, highlighting the complexity of today’s market. FSBO homes continue to sell for less—about $380,000 in 2023, compared to the median price of $435,000 for agent-assisted sales.

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Key Takeaways for Brevard County Buyers and Sellers

1. Buyers Need Strategy and Expertise

With shifting demographics and a competitive market, buyers should balance their wish lists with practical factors like affordability, commute times, and home condition. Partnering with an experienced local agent can simplify the search and negotiation process.

2. Sellers Must Stand Out

Even in a strong market, sellers should prioritize curb appeal, accurate pricing, and expert marketing. With homes selling for a median of 100% of their listing price, preparation and timing are critical to achieving top dollar.

3. Real Estate Remains a Wise Investment

Despite challenges, 79% of buyers see homeownership as a solid financial investment. For those in Brevard County, rising demand and local amenities continue to make the area attractive for long-term stability.

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Ready to Make Your Move?

Whether you’re buying your first home, upgrading to something larger, or preparing to sell, navigating the Brevard County real estate market requires a combination of insight, timing, and expert guidance. Don’t wait for the perfect moment—the perfect plan starts today. Contact a trusted local agent to discuss your goals and take the first step toward your future.