First-Time Buyers Increasing … Slowly

The National Association of Realtors reports in it’s recent Profile of Home Buyers and Sellers that first-time buyers accounted for 35 percent of home sales in the U.S. between July 2015 and July 2016. While this is a 3 percent increase from the previous year it remains significantly lower that the 40 percent which has been the norm.

Growing wages was cited as a prime factor in the increase as well as continued low mortgage interest rates.

Nevertheless, the down payment remains the largest obstacle for homebuyers with nearly 50 percent having difficulties due to student loans while 40 percent pointed to high credit card debt.

Leave a Comment