The proportion of first-time homebuyers increased to 32%, compared to the previous year, though still below the average level of 38% since 1981. Among recent buyers, 59% were married couples, 19% were single women, 10% were single men, and 9% were unmarried couples. This marks the lowest percentage of married couples among first-time homebuyers since 2010.

These data indicate that rising home prices require more funds for homebuying, putting buyers under more severe economic pressure. However, among first-time homebuyers, more individuals realized their dream of homeownership through efficient financial planning and choosing more suitable types of homes.

Among buyers, the primary reason for purchasing a home was meeting their own housing needs, accounting for 26%. For first-time homebuyers, this proportion rose to 60%. Thirteen percent of buyers purchased new homes, while 87% purchased existing homes. Detached single-family homes remained the favorite among recent buyers at 79%, followed by townhouses at 8%. From a business perspective, real estate developers need to reconsider how to meet the evolving consumer demands to better adapt to market changes.

Currently, 80% of buyers are financing their home purchases through loans, slightly up from 78% last year but still below the 87% ratio in 2021. The down payment for first-time homebuyers is typically around 8%, while buyers with previous homebuying experience have a down payment around 19%.

Buyers still see homeownership as a good financial investment, with 82% stating that they believe buying a home is a sound investment. Despite the rise in mortgage rates, loans remain the primary method for most buyers to purchase homes.

For sellers, the most common reasons for selling are wanting to live closer to friends and family (23%), the current home being too small (13%), or changes in family circumstances, such as marriage, divorce, or new family members (10%).

Sellers typically lived in their homes for an average of 10 years before selling. The average time sellers list their properties online decreased from 24 days last year to 21 days. Faced with the impact of high home prices and rising mortgage rates, sellers encounter more challenges and need to better plan their selling strategies.

Nationwide, the rate of home price increases is gradually slowing down but remains on an upward trend. A recent survey indicates that in over 100 major cities in the U.S., prices increased in 77 cities over the past year, while only 23 cities experienced a decline. Considering the impact of high home prices and rising mortgage rates, buyers are becoming more cautious in their decisions to purchase homes.

As mobility and remote work become increasingly prevalent trends, people are placing more emphasis on the quality of living and lifestyle in their choice of residence, rather than solely considering convenience for work and commuting. With rising home prices and a decrease in the number of buyers, sellers are becoming more open to the idea of renting properties, making the rental market more competitive.