Zillow Offers Look At Typical Home Seller

Abstract

Of the dual seler-buyers, 4% upgraded to buying a more expensive home than the one they sold, a sharp drop from 2021's 55%. Sellers who included a virtual tour in their home listing were more likely to report receiving at least 1 all-cash offer vs. sellers without a virtual tour. The typical U.S. home seller is white, 46 years old, has household income in the low $80,000 range, and is also buying a home. The report's data broadly showed that most sellers are partnered, married, or previously married, have at least some college education, and are most likely to sell a home in the South. About seven in 10 sellers reported buying a home in addition to selling one; 44% of these dual seller-buyers upgraded to a more expensive home than the one they sold. Since 2019, the share of sellers that report selling without any offers fell 11 points from 14% in 2019 to 3% in 2022. Sellers who included a virtual tour in their home listing were more likely to report receiving at least one all-cash offer than sellers who did not include a virtual tour, and they typically sold for 22% more. Most sellers said they completed at least one improvement project as part of selling their home, such as painting, redecorating, kitchen improvement, new appliances, or replacing/repairing flooring.