According to a study by the National Association of Realtors the number of first time homebuyers in the market today has increased since 2007.
They are scooping up deals on low priced houses in real estate markets with inventory that is plentiful. Attractive interest rates are also a large factor in their decision to purchase a home.
The median age of a first time home buyer is 30 years old. The median priced home they bought was $165,000.
First time home buyers are great candidates for home purchases because they don't have to wait to sell another home before they can buy one.
The projection for the future is that the number of buyers in this group will continue to rise if interest rates remain low and FHA programs remain favorable.
Check your area for some great first time homebuyer assistance programs.
that for you
Sandy, I don't know about your market area, but there are some really great bargains in my area right now. First time buyers haven't seen opportunities like this in years! The key is finding a way to get them into these homes with as little down as possible.
HI SANDY!
Way to go for posting positive, motivating information to buyers. The consumers will certainly be impressed reading your post!
This is a great time for first time homebuyers. We have a lot of people in Hawaii who were priced out of home ownership and I certainly hope they climb aboard this train before it leaves the station.
Aloha, Richard
Hi Sandy always like to hear the half full side of things....and so true first-time home buyers are in a great position to make a purchase with interest rates and market conditions in their favor. Cheers!
Hi Colleen, I agree that there haven't been opportunities like this available in years! There are some great first time homebuyer properties and they are moving quickly!
Hi Sandy ... Excellent post for those still thinking about buying. And there are a lot of great buys out there in my area also. Not much movement though. Enjoy the day!
Yvette, Consumers need to know what is going on in the market. And must be reminded that it's a great time to get out there and buy!
Hi Richard, Many buyers here were priced out of the market too. I think that has changed and I see many people taking advantage a great situation.
Hey Teresa, So nice to hear from you! Hope you are well! First time homebuyers are in the drivers seat today. I have seen many get some really great deals!
Hi Marie, I hate hearing that there is not much movement in your area right now. We are seeing homes under $100K that are properly priced moving rather quickly. Hope it continues this way.