First-time buyers are making up less of the homebuying market, Realtor.com reports.
While younger adults delay the process of purchasing their first home, typically due to affordability and financial flexibility concerns, other segments of buyers are impacted.
“For the housing market, meanwhile, first-timers represent fresh demand,” Andrea Riquier of Realtor.com writes. “Without them, current homeowners can’t sell homes and move up; without move-up transactions, many older people can’t sell and downsize as part of retirement.”
Advertisement
Related Stories
New-Home Sales
Mortgage Rates Are Up but New-Home Sales Still Solid in March
Lack of existing home inventory drove a rise in new-home sales, despite higher interest rates in March
Sustainability
Mention of Eco-Friendly Home Features Is on the Rise in Sales Listings
Home listing descriptions using eco-friendly terms have been rising over the past five years in line with growing consumer interest in the environment and energy efficiency
Sales + Marketing
New-Home Sales and Navigating the 3 D’s: Death, Divorce, and Downsizing
Here’s how home sales experts manage challenging lifestyle changes with and for their buyers