Meet the typical American homebuyer, who is middle-aged, lives in the south, and went way over budget for their house
Those who didn't stay in the metro area still remained close by in the northeast, heading out east to Long Island and upstate to Westchester and Suffolk Counties. Some ventured a bit farther, to cities like Bridgeport, Connecticut, and Philadelphia.
"Instead of thinking about the daily commute, it's going to be the case that renters and homebuyers are going to be thinking about the weekly commute," Robert Dietz, chief economist at the National Association of Home Builders, The typical homebuyer bought a three-bed, three-bath single-family detached home between 1,000 and 1,999 square feet.stemming from a dozen years of underbuilding, the pandemic, and, partly, a lumber shortage has left buyers scrambling as the number of houses available swiftly declines.
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