FSBO, Lot Sizes, and Baby Boomer Buyers By The Numbers

Homeowners sell for less without a REALTOR®

5.02% to 7.26%

A study by Collateral Analytics Research of millions of home sales in 11 states including Texas concluded that FSBOs sold for a lower average price per square foot than MLS sales, depending on the area and time frame.

Older buyers want shorter loans

15 years

The majority of Baby Boomers prefer a 15-year mortgage, while most Millennial and Generation X homebuyers want 30-year loans, according to the online Mortgages in America Survey. Unsurprisingly, a majority of all generations surveyed said they would prefer a 10% downpayment rather than 15%, 20%, or 30% downpayments.

Lot sizes are shrinking

14%

Median lot sizes for new single-family detached spec-built homes in the South (including Texas) have gotten smaller since 2009, according to the U.S. Census Bureau. The median of 8,648 square feet is nearly the same as the nationwide median but far smaller than the Northeast, with a median of 13,178 square feet.