The Latest Facts and Figures about Buyers and Sellers in Florida

What does the typical Florida home buyer or seller look like?

Each year, the National Association of Realtors does a deep dive into who's buying and selling homes. The facts and figures about buyers and sellers in Florida included in the report offer insights into the Sunshine State's unique housing market.

Here are some highlights from the latest report from 2023:

Characteristics of Florida homebuyers

• First-time buyers made up 20 percent of Florida home buyers, compared to 32 percent across the country.
• The typical buyer was 60 years old and had a median income of $103,100.
• 64 percent of recent buyers were married couples, 17 percent were single females, 11 percent were single males, and six percent were unmarried couples.
• In Florida, 83 percent of homebuyers did not have children under the age of 18 residing in the household. Nationally, 70 percent of homebuyers did not have children under the age of 18.
• 11 percent of home buyers purchased a multi-generational home, to take care of aging parents, because of children over the age of 18 moving back home, for cost savings, and to spend more time with aging parents.

Characteristics of Florida homes purchased

• Buyers of new homes made up 30 percent and buyers of previously owned homes made up 70 percent. Only 13 percent of buyers across the U.S. purchased new homes.
• Detached single-family homes continue to be the most common home type for recent buyers at 76 percent.  

Home buying and real estate professionals

• 83 percent of buyers recently purchased their home through a real estate agent or broker, and 14 percent purchased directly from a builder or builder’s agent.
• 72 percent of buyers would use their agent again or recommend their agent to others.

Financing the home purchase

• First-time buyers who financed their home typically financed 95 percent of their home compared to repeat buyers at 79 percent.
• For 48 percent of buyers, the source of the down payment came from their savings. 47 percent of buyers cited using the proceeds from the sale of a primary residence, which was the next most commonly reported way of securing a down payment.
• Buyers continue to see purchasing a home as a good financial investment. 81 percent reported they view a home purchase as a good investment.

Home sellers and their selling experience

• For all sellers, the most commonly cited reason for selling their home was include due to retirement (19 percent), followed by the desire to move closer to friends and family (18 percent).
• Sellers typically lived in their home for six years before selling.

Home selling and real estate professionals

• 67 percent said that they would definitely or probably (17 percent) recommend their agent for future services.
• 82 percent said the level of service provided by the real estate agent was a broad range of services and management of most aspects of the home sale.

Click the blue button below to download the full report. If you are visually impaired and need assistance reading the report, please contact Florida Realtors Research Department research@floridarealtors.org or 407.438.1400.