First Time Homebuyers Account For Nearly One Third Of All Home Sales In 2016 Lets Increase This Amou

Dated: 02/03/2017

Views: 104

First-time home buyers accounted for 32% of residential sales in 2016 according to REALTORS. Sustained job growth and improving incomes along with the aging of the Millennial generation are likely underpinning the continued, albeit modest, increase in homebuying by first-time buyers.

Low mortgage rates have also bolstered homebuying, although the increase in interest rates since November appears to have affected demand in some areas, according to survey respondents. Mortgage rates are likely to continue to rise modestly in 2017.

ft homebuyers The share of first-time homebuyers increased in states such as Arizona, California, Florida, and North Carolina in 2016 compared to the rates in 2015. The share of first-time homebuyers has also increased in Arizona, Florida, and New York since 2012, the first year of solid growth since the recession of 2008-2009.

ft some states Buyers 34 years old and under, who are likely to be first-time buyers, accounted for 30 percent of residential buyers in December 2016, (29 percent in November 2016; 27 percent in December 2015). The share of buyers 34 and under has been on a gradual uptrend from the 26 percent share in July 2013 when this information started to be collected in the survey.

age distribution

Homebuyers who were renting prior to their recent home purchase accounted for 39 percent of sales in December 2016 (40 percent in November 2016; 38 percent in December 2015). The fraction of buyers who were renting prior to their recent home purchase has increased from the 36 percent share in November 2014 when this information started to be collected in the survey.

living status

So please, lets try and increase the percentage of first-time home buyers even more and start building your own equity instead of someone else's. If you ever have any questions about the market or real estate in general I am always available! 

Denver CO Homes for Sale – Wan Lim, Associate Broker/ Realtor

Your local realtor serving Cherry Creek, Centennial, Denver and the

surrounding communities. Purchasing a home is not easy, but it can be

with me! I will work tirelessly with investors, buyers and sellers to 

save you time and money but most importantly to get you into the 

home of your dreams! Call Wan Lim anytime at (303) 910-0818

eNewsletter Sign Up

Blog author image

Wan Lim

My name is Wan, I am passionate and driven to help everyone I can in buying and selling real estate. Just a little bit about me, I graduated Colorado State University with a degree in Hospitality Mana....

Want to Advertise on this Site?

Latest Blog Posts

OPEN HOUSE In Beautiful Morrison CO June 24

Come see us before Widespread Panic tomorrow night! Or, for some of you, come see us before you go to sleep from seeing Widespread the night before!  Either way...OPEN HOUSE Sunday, June 24th

Read More

Ultra Luxurious Soho Penthouse Is This Weeks Most Expensive New Listing

Highest Listing This Week for a Penthouse in SoHo! Can you quess how much ?!!?? .......$65 MILLION= 8000sqft + 4Beds + 6Baths  The kitchen reminds me of a

Read More

Gorgeous Condo 5 Minutes From The Lake Under 250k

Gorgeous well maintained condo off of C470 and Wads. Quick 5 minutes to the entrance of Chatfield Reservoir. Swim beaches, campground, recreational ponds for paddle boarding, canoeing, kayaking

Read More

Open House In Crystal Valley Ranch Castle Rock

You have to come see this model-like home in the new Crystal Valley Ranch community.  Only one year old, this home is great for those looking for a quiet and secluded neighborhood full of

Read More