HOME BUYING PATTERNS

Based on a national telephone survey of 1,500 home buyers in 1989.

Los Orange San Angeles County Francisco Median price of $187,500 $166,300 $199,900 home purchased Average price of $211,000 $194,600 $226,800 home purchased Average monthly payment $1,296 $1,375 $1,429 First-time buyers $1,311 $1,256 $1,243 Repeat buyers $1,289 $1,469 $1,524 When household income is: less than $30,000 $991 $1,050 $863 $30,000-$40,000 $994 $1,100 $928 $41,000-$50,000 $954 $1,086 $1,023 $51,000-$60,000 $1,273 $1,179 $1,318 $61,000 or more $1,555 $1,509 $1,758 Average payment as 36.8% 33.0% 37.5% % of income Buying for the first time 30.0% 40.3% 33.3% Previously owned a home 70.0% 59.7% 66.7% Average age of 31.0 29.5 31.4 first-time buyers Average age of 42.1 37.2 42.9 repeat buyers Average number of 10.7 16.6 13.1 houses looked at Bought new homes 19.0% 15.7% 24.4% Bought used homes 81.0% 84.3% 75.6% Two-income families 76.4% 83.8% 80.7% Down payment as of 27.0% 22.4% 27.3% % of sales price First-time buyers 16.5% 15.1% 17.3% Repeat buyers 31.5% 28.4% 32.1% Average family size 2.7 2.5 2.7 First-time buyers 2.2 2.2 2.4 Repeat buyers 3.0 2.7 2.9 Median household $64,900 $70,000 $70,300 income First-time buyers 52,200 59,300 60,600 Repeat buyers 70,500 77,700 75,100

SOURCE: Chicago Title & Trust Co.