With the increasing popularity of mortgage insurance, a 20 percent downpayment may not be status quo anymore for those looking to become homeowners. First-time homebuyers account for nearly half of total homes purchased in the first quarter of 2017, a number that is expected to rise. They are also exploring other options to obtain homes.
Read More »Young People Buying Homes Earlier but for Similar Reasons
According to the second quarter Real Estate Sentiment Index, which polls industry professionals across the country to gain their unique insight about the future of the housing market, young people aged 26-30 are the number one demographic for first time home buyers. Their reasons? Financial investment and starting a family, which echoes past generations' reasons for becoming homeowners. Industry professionals are also confident in rising residential purchases, and in some states, price growth.
Read More »First-time Buyers Account for 60 Percent of Purchases
According to a new report, first-time homebuyers now make up 60 percent of all home purchases. On GSE loans, first-time buyers comprise 47 percent of loans, while on FHA loans, they account for 82 percent. The uptick is likely due to an improved economy, lower unemployment, rising income, and more new home construction
Read More »AEI: “The First-Time Buyer is Alive and Well in Today’s Home Purchase Market”
The first-time buyer volume of government-guaranteed home purchase loans spiked year-over-year in August. What's driving this increase?
Read More »Does Homebuyer Education Lead to Housing Stability?
HUD studied nearly 6,000 prospective first-time homebuyers to determine the effects of efforts to educate new homebuyers on housing and financial stability.
Read More »High Rents May Force Buyers Into the Market
The increasing cost of rental housing is prompting a larger number of consumers to go searching for a home to buy.
Read More »Ten Markets Primed for First-time Buyers
Affordable monthly mortgage payments, positive home values, and competition are attracting first-time homebuyers to these 10 markets.
Read More »Credit Score is Holding Back Many Millennials
A survey indicates that millennials are aware of how much their finances will affect their ability to buy a home.
Read More »The Reemergence of First-time Home Buyers
First-time buyer volume rose significantly in March 2016, driven by continued labor market improvements, riskier mortgage lending, and historically low mortgage rates.
Read More »Buyer Behavior—Emotional Factors Drive Purchase Decisions
Bank of America’s first-ever look at homebuying trends has found that more buyers want a home more than they want an investment in property.
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