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Understand how fixed rate mortgages work and whether they're the right type of home loan for you. Key can help.

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FHA, Fannie Mae & VA Home Loans | KeyBank

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See the various VA, FHA and Fannie Mae loan programs KeyBank offers. We can help you determine which type of home loan is right for you.

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IRS & State Tax Brackets Calculator || Gain Power With Knowledge

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2017 Federal & State tax rates and brackets calculator with graphs, charts, and historical data.

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Real Estate Statistics: National Association of Realtors

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Real Estate Statistics: National Association of Realtors

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Looking for quick statistics for your sales meeting or a customer brochure? Need a quick fact to make your point? Information Services has compiled some of the most requested statistics for quick and easy access. Find the information that you need, as well as its source, at a glance.

Overview of the Real Estate Market

5,250,000 existing homes were sold in 2015, according to data from the National Association of REALTORS®. 510,000 newly constructed homes were sold in 2015, according to the U.S. Census Bureau.

The Association of Real Estate License Law Officials (ARELLO) estimates that there are about 2 million active real estate licensees in the United States.

According to the 2012 Economic Census, there are 86,004 real estate brokerage firms operating in the United States.

Preliminary results from the U.S. Energy Information Administration's Commercial Buildings Energy Consumption Survey (CBECS) show that there were 5.6 million commercial buildings in the United States in 2012, comprising 87.4 billion square feet of floorspace.

There are approximately 115 million occupied housing units in the United States, according to the 2013 American Housing Survey. The typical owner-occupied home was built in 1976; the typical renter-occupied home was built in 1973. The typical home size is 1,500 square feet. The typical home owner is 55 years old, and has lived in the current home for 14 years.

In 2013, 65.2 % of families owned their primary residence, according to the Federal Reserve's Survey of Consumer Finances.

NAR Membership Statistics

Members to date: 1,236,544 as of April 2017

Number of local associations: 1,222 as of Jan. 4, 2016
Source: Monthly Membership Report and NAR Membership Statistics, 1908-present
REALTOR® Demographics

65% percent of REALTORS® are licensed as sales agents, 22% hold broker licenses, and 15% hold broker associate licenses.

The typical REALTOR® is a 53 year old white female who attended college and is a homeowner.

63% of all REALTORS® are female, and the median age of all REALTORS® is 53.

Real estate experience of all REALTORS® (median): 10 years

Median tenure at present firm (all REALTORS®): 4 years

Most REALTORS® worked 40 hours per week in 2016.

The median gross income of REALTORS® was $42,500 in 2016, an increase from $39,200 in 2015.

Formal education of REALTORS®:

Some college: 31%

Bachelor's degree: 31%

Graduate degree and above: 13%

Associate degree: 12%

Some graduate school: 6%

High school graduate: 7%

REALTOR® affiliation with firms:

Independent contractor: 86%

Employee: 5%

Other: 9%

Source: 2017 National Association of REALTORS® Member Profile
Statistics on REALTORS® and Technology

27% of agents and 21% of brokers spent between $501 - $2,000 on technology in the last 12 months.

The top three tools that respondents plan on purchasing or replacing in the next year are: iPad (16%); Smartphone (15%); and digital camera (12%).

The most frequently used operating system is Windows 7 (38%).

The most popular smartphones are iPhone (52%), Android OS (45%), Blackberry (3%).

91% of REALTORS® use social media to some extent.

The top places where REALTORS® place their listings are realtor.com®, Zillow and Trulia.

Source: 2013-2014 REALTOR® Technology Survey
Home Buyer Statistics

First-Time vs. Repeat Buyers:

First-time buyers: 35%

Median age of first-time buyers: 32

Median age of repeat buyers: 52

Median household income of first-time buyers: $72,000

Median household income of repeat buyers: $98,000

The typical home purchased in 2015 was 1,900 square feet in size, was built in 1991, and had three bedrooms and two bathrooms.

Among those who financed their home purchase, buyers typically financed 90% of the home price.

88% of buyers purchased their home through a real estate agent or broker-a share that has steadily increased from 69 percent in 2001.

Buyers who definitely would use same agent again: 73%

Where buyer found the home they purchased:

Internet: 51%

Real estate agent: 34%

Yard sign/open house sign: 8%

Friend, relative or neighbor: 4%

Home builder or their agent: 2%

Directly from sellers/Knew the sellers: 1%

Print newspaper advertisement: 1%

Source: 2016 National Association of REALTORS® Profile of Home Buyers and Sellers

78% of home buyers surveyed in NAR's 2013 Community Preference Survey responded that neighborhood quality is more important than the size of the home. 57% would forego a home with a larger yard in favor of a shorter commute.

NAR's 2013 Profile of Buyers' Home Feature Preferences found that the feature that had the highest dollar value buyers were willing to pay more for was a waterfront property. 53% of home buyers undertook a home improvement project within 3 months of buying, typically spending $4,550 in improvement projects.

Download (JPG: 139 KB)

Home Seller Statistics

The typical home seller in 2015 was 54 years of age, had a median household income of $100,700, and lived in their home for 10 years.

89% of sellers were assisted by a real estate agent when selling their home.

Recent sellers typically sold their homes for 98% of the listing price, and 37% reported reducing the asking price at least once.

The typical home sold was on the market for 4 weeks.

64% of sellers who used a real estate agent found their agents through a referral by friends or family, and 25% used the agent they previously worked with to buy or sell a home.

Sellers who definitely would use same agent again: 70%

Source: 2016 National Association of REALTORS® Profile of Home Buyers and Sellers
For Sale By Owner (FSBO) Statistics

FSBOs accounted for 8% of home sales in 2015. The typical FSBO home sold for $185,000 compared to $240,000 for agent-assisted home sales.

FSBO methods used to market home:

Yard sign: 33%

Friends, relatives, or neighbors: 21%

Online classified advertisements: 10%

Open house: 21%

For-sale-by-owner websites: 7%

Social networking websites (e.g. Facebook, Twitter, etc.): 9%

Multiple Listing Service (MLS) website: 13%

Print newspaper advertisement: 3%

Direct mail (flyers, postcards, etc.): 2%

Video: 1%

None: Did not actively market home: 41%

Most difficult tasks for FSBO sellers:

Getting the right price: 18%

Preparing/fixing up home for sale: 13%

Understanding and performing paperwork: 12%

Selling within the planned length of time: 3%

Having enough time to devote to all aspects of the sale: 3%

Source: 2016 National Association of REALTORS® Profile of Home Buyers and Sellers
Other Recomm​ended Sources for Data on Real Estate:

The Economists' Outlook blog provides insight into NAR Research's reports and analyzes how various economic indicators affect the real estate market.

NAR's State-by-State Economic Impact of Real Estate Activity examines real estate markets in each state and analyzes their contribution to the economy.

The Research & Statistics section of nar.realtor includes links to recent surveys and reports available from NAR.

U.S. Housing Market Conditions is published quarterly by the U.S. Department of Housing & Urban Development, providing numerous housing market statistics from the federal government and other organizations.

The State of the Nation's Housing, from the Joint Center for Housing Studies of Harvard University, is an annual review of housing markets in the U.S., including data on demographic trends and economic conditions.

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Looking for quick statistics for your sales meeting or a customer brochure? Need a quick fact to make your point? Information Services has compiled some of the most requested statistics for quick and easy access. Find the information that you need, as well as its source, at a glance.

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Financial Wellness Program for Employees | HelloWallet

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HelloWallet partners with employers to provide independent, personalized financial wellness guidance to employees via web and mobile software applications.

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Change the Way We Collaborate With Millennial Customers the Way They Need

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Change the Way We Collaborate With Millennial Customers the Way They Need

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Collaboration Tools for Business | Workplace from Meta

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The all-in-one business communication platform from Meta that securely combines chat, video, groups and your intranet with the work tools you already use.

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Home Buyer & Seller Generational Trends 2017

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Data in this infographic comes from the 2017 Home Buyer & Seller Generational Trends report.

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The Redfin Real Estate Agency Created With Millennials in Mind

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The Redfin Real Estate Agency Created With Millennials in Mind

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Real Estate, Homes for Sale, MLS Listings, Agents | Redfin

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Search all real estate listings. Tour homes and make offers with the help of local Redfin real estate agents.

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Computer Literacy is Worse Than We Think

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Computer Literacy is Worse Than We Think

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The Distribution of Users’ Computer Skills: Worse Than You Think

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Across 33 rich countries, only 5% of the population has high computer-related abilities, and only a third of people can complete medium-complexity tasks.

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Millennials Are Doing Better in a Lot of Ways

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Millennials Are Doing Better in a Lot of Ways

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Charley Gallay/Getty Images for Veuve Clicquot

Millennials are really good at saving money - especially if they have kids.

In fact, US millennial parents are on track to be richer in retirement than the typical Gen-Xer or baby boomer with kids.

That's according to a new NerdWallet study, which found employed millennial parents (aged 18 to 34) are contributing a median of 10% of their income to retirement savings.

Generation X (aged 35 to 54) is saving 8% of their income and working baby boomers (55 and older) are socking away just 5%.

The study is based on a survey of more than 2,000 American adults, including 1,112 parents and 874 non-parents. Despite the added expense of a child, 84% of parents surveyed said they are contributing to retirement savings, compared to 69% of non-parents.

Still, among all parents, millennials are saving a greater percentage of their income. According to the report, over one-third of millennials are saving at least 15% of their income.

"Millennials are making really good decisions whenever they have an opportunity to save more," Arielle O'Shea, retirement and investing specialist at NerdWallet, told Business Insider.

"Not just when they have a higher paying job, but they're saving more after paying off debt and after getting married - those things are really notable," she said.

Even if the dollar amount they are saving is smaller because they're earning less money than older generations, millennials are still in good financial shape. The key to retiring rich is investing early and consistently.

"Millennials are doing themselves a big service here by saving so early and taking advantage of compound interest," O'Shea said.

In the chart below, NerdWallet compared the retirement saving rates of millennials, Gen-Xers, and baby boomers. For the purpose of the analysis, all generations started saving at age 26 and retire at 67, earn an average annual return of 6% on investments, and receive a 2% annual salary increase.

At a starting salary of $40,000, a millennial who saves 10% of their income over the entirety of their career would end up with about $865,000 at retirement. By comparison, a person saving 5% of their income - the current savings rate of baby boomer parents - would net nearly half that by retirement, assuming their savings rate has always been 5%.

At a staring salary of $100,000, the difference in retirement savings for millennial and baby boomer parents jumps to more than $1 million.

It's possible older Americans aren't saving as much because the cost of raising kids increases the older they get, O'Shea said, especially when parents "start feeling the crunch of college."

Obviously this can hurt your retirement savings, as most financial experts recommend gradually increasing your savings rate the closer you get to retirement. Incrementally increasing your savings will help your account balances grow, but it does something else that's even more valuable: It creates momentum. Once you start saving, it's easier to keep going.

According to the study, millennial parents are most likely to report having made sacrifices to increase their savings, including cutting back in big spending areas such as dining out, vacations, and entertainment.

"Everyone can use strategies millennial parents are using," O'Shea said. "Save more when you get a raise, when you pay off debt, or cut back on dining."

Some millennials, however, may not be saving for retirement intentionally. Instead, they're starting new jobs that auto-enroll them in their employer's 401(k) plan, and many don't bother to opt out.

That's great for some people, O'Shea said, but "knowing how much you need to be saving is huge, and working toward a goal makes all the difference."

If you're unsure how much you should be saving for your ideal retirement, you can start with a simple calculation. Take your desired annual retirement income, and divide it by 4% (the maximum amount you will withdraw from your savings each year to pay for your living expenses in retirement).

Once you know your magic number, you can leave work as soon as you reach it.

SEE ALSO: The first 3 things to do with your money when you get a raise or bonus

DON'T MISS: I'm a financial planner - here's what I tell people who ask if they're saving enough money

NOW WATCH: A $2 trillion investment chief corrects the 'myths about millennials' when it comes to investing

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Millennials are saving twice as much as baby boomers - and they could be on track to retire richer than their parents

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Millennials are really good at saving money - especially if they have kids. In fact, US millennial parents are on track to be richer in retirement than the typical Gen-Xer or baby boomer with kids. That's according to a new NerdWallet study, which found employed millennial parents (aged 18 to 34) are contributing a median of 10% of their income to retirement savings.