Investors aren't the only major players driving the housing recovery. According to results from the ""Campbell/Inside Mortgage Finance HousingPulse Tracking Survey"":http://www.insidemortgagefinance.com/housing_pulse/ for March, first-time homebuyers and current homeowners are also building a strong presence as they dominate the non-distressed market.[IMAGE]
When comparing activity among the buyer types for non-distressed properties, non-investors held a significant lead.
In March, investors accounted for 13.3 percent of the market share for non-distressed properties, while current homeowners represented 50 percent of the market. First-time homebuyers also made up a significant portion at 36.8 percent.[COLUMN_BREAK]
For purchase activity overall, the HousingPulse survey found current homeowners accounted for 42.2 percent of the market share Activity from first-time homebuyers picked up and reached an eight-month high after accounting for 36.1 percent of market share. At the same time, investor activity represented just 21.8 percent of market share in March. HousingPulse results also revealed investor market share nationwide has been ranging between 19 and 23 percent for much of the past year.
As non-investor activity strengthens, the survey showed the non-distressed market is benefitting as well. Offers for non-distressed properties heated up in March, with the three-month moving average hitting a three-and-a-half year high at 2.2, according to the survey. In California, non-distressed properties received four offers on average.
Non-distressed properties also stayed on the market for a shorter period of time, aeeraging 10.9 weeks, which is the lowest level the survey has recorded in three-and-a-half years. The average sales-to-list-price ratio for non-distressed properties also improved and rose to 96.8 percent in March, up from 94.9 percent a year ago.
""We are seeing a very strong market for non-distressed properties and that is important because the metrics for this segment are not affected by policy decisions at mortgage servicers to release or not release distressed properties onto the market,"" said Thomas Popik, research director for Campbell Surveys. ""It bodes well for the spring-summer buying season.""
The survey includes about 2,000 real estate agents nationwide each month.