First-Time Homebuyer Demographics Are More Complex Than They First Appear

January 29, 2016

In 2015, the percentage of first-time homebuyers was 32 percent of the total. However, that number carries with it some hidden statistics that can vary wildly depending on what area of the country or what age group is being examined, according to The National Association of Realtors.

Of that 32 percent of first-time buyers, millennials between the ages of 25 and 34 made up 58 percent of the total. But what is even more interesting is how varied the numbers for first-time homebuyers are throughout different regions of the country. In the mountain region of Montana, Idaho, Wyoming, Nevada, Utah, Arizona, New Mexico, and Colorado only 21 percent of the total number of buyers were first-time buyers.

Meanwhile, the Middle Atlantic and New England states saw first-time homebuyers make up 43 percent and 42 percent of the total respectively.

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