The NAR Profile of Home Buyers and Sellers is an annual survey conducted of recent home buyers and sellers that provides insight into detailed information about their experiences with this important transaction. Highlights include information like this:

For the third consecutive year, the share of first-time buyers declined to 32 percent (down one percent from 2014), hitting the second-lowest share since reporting began. First-time buyers had a median age of 31, median income of $69,400 (up from $68,300 in 2014) and purchased a 1,620sf home costing $170,000. Repeat buyers were 53 years old, income of $98,700 (up from $95,000 in 2014) and purchased a 2,020sf home costing $246,400.

Check out the other highlights from the NAR Profile of Home Buyers and Sellers