Oconomowoc’s location is idyllic for both rural and metropolitan interests and further, offers the best amenities of both. Just 35 miles west of Milwaukee, 5 miles east of Madison, and 120 miles north of Chicago, Oconomowoc is located in close proximity to some of the Midwest’s most esteemed cultural epicenters, as well as maintains a strong culture, vibrant economy and unmistakable smaller city charm all its own. The area includes the City of Oconomowoc, Towns of Oconomowoc, Okauchee,and Summit, and Villages of Dousman, Lac LaBelle, and Oconomowoc Lake.

Monday, January 28, 2019

Wisconsin Winter Wonderland and Land of the Frozen Tund

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Friday, January 30, 2015

How are first-time homebuyers becoming more diverse?

How are first-time homebuyers becoming more diverse?



 





How are first-time homebuyers becoming more diverse?





  • Using data from NAR’s 2006-2014 Profile of Home Buyers and Sellers, we
    can examine how the demographics of first-time homebuyers have changed
    over the last 9 years. What do these numbers show us about the diversity
    of buyers, and what insight can they provide for the future?
  • The demographic characteristics of first-time buyers overall has
    remained consistent over the last 9 years with slight increases and
    decreases.
Household Composition of First-Time Buyers:


  • Since 2006 the distribution of first-time buyers’ household
    composition has remained predominantly married couples, making up an
    average of 52% of first-time buyers.
  • On average 22% of first-time buyers were single females and 12% were single males or unmarried couples.
Household ChartHousehold Graph





Median Age of First-Time Buyers:


  • The median age of first-time buyers has remained within a 3 year age gap between 30-32 years old.
  • The average median age of first-time buyers since 2006 was 31 years old.
Med Age Chart


Med Age graph








Racial and Ethnic Distribution of First-Time Buyers:


  • The racial and ethnic distribution of first-time buyers has remained
    predominately White/Caucasian, making up an average of 77% of
    first-time buyers since 2006.
  • The averages of other races and ethnicities are:
    • Black/African American: 8%
    • Hispanic/Latino: 8%
    • Asian/Pacific Islander: 7%
    • Other: 3%
Race ChartRace Graph





Country of Birth of First-Time Buyers:


  • Since 2006 the number of first-time buyers who were born in the U.S.
    has increased and then decreased settling back to 86% in 2014, the same
    as in 2006.
  • On average 87% of first-time buyers were born in the U.S. and 13% were born outside of the U.S.
COB Chart


COB Graph





Primary Language Spoken by First-Time Buyers:


  • Over the last 9 years, English has remained the primary language of first-time buyers.
  • On average 7% of first-time buyers spoke other languages, while 93% spoke primarily English.
PL ChartPL Graph





The Future of First-Time Buyers:


  • While the demographics of first-time buyers over the last 9 years
    have not necessarily seen great changes, there is still the outlook for
    the future.
  • William Frey, of the Brookings Institution, recently published the
    book “Diversity Explosion” which looks at the demographic future of
    America.
  • Frey expounds that America is becoming a country with no racial
    majority, with a dramatic growth of young minority populations expected.
  • Frey predicts that sometime after 2040 there will be no racial
    majority; this would ultimately change the demographics of the
    first-time homebuyers moving towards greater diversity. 
Population Projection





For more information on this research, check out the:


2014 Profile of Home Buyers and Sellers and William Frey’s book Diversity Explosion