What Statistics Say About Open Houses

What statistics say about open houses

Posted on March 26, 2013 by Texas Association of REALTORS®

Before you discount holding an open house for your clients, you might want to consider that last year in Texas, 37% of all homebuyers used open houses as a resource during their home search. But open houses are also an important tool for buyers whose primary language is not English, according to data from NAR’s 2012 Profile of Home Buyers and Sellers.

Nationally, 59% of buyers who speak another language take advantage of open houses during their home search. Buyers who were not born in the United States are also more likely to attend an open house, with 57% of this demographic of buyers using open houses as a search tool in 2012.

Some other statistics on homebuyers’ use of open houses show that they could be worth your time, especially if you’re working with certain kinds of properties or targeting potential buyers. For example:

• Buyers of new homes use open houses more often than buyers of previously owned homes.
• Married and unmarried couples are more likely to walk through an open house than single buyers.
• Buyers age 65 and older are more likely to find their home through an open house than other age groups.
• Buyers with an income between $55,000 and $75,000 are more likely to find their home through an open house than buyers in other income brackets.

Whether you’ve held an open house before or are thinking about trying one now, learn the ins and outs of hosting one in “Open Houses 101” from the March 2012 issue of Texas REALTOR® magazine.