The National Association of Realtors found that first-time buyers accounted for 32 percent of existing-home sales in August 2015.
First-time buyer share increased by 4 percentage points from July 2015 and by 3 percent year-over-year.
“Sustained net job creation, a low interest rate environment with 30-year fixed rates at below four percent for most of 2015, and better pricing of FHA-insured mortgages appear to be helping first-time homebuyers,” the association said in their Economists’ Outlook Blog.
When broken down by age group, buyers age 34 and under made up 29 percent of sales reported by respondents. Nearly half of all buyers were in the age group 35 to 55 years.
Advertisement
Related Stories
Market Data + Trends
Vacation and Investment Home Market Insights
A recent report finds beach homes to be the most sought-after vacation-home type and that the investment potential of a second home is an important factor in the purchasing decision
Affordability
How Much Income Do First-Time Buyers Need to Afford the Average Home?
The median-priced home is unaffordable in 44 of the 50 largest U.S. metro areas
Sales
What the NAR Commissions Settlement Means for Home Builders
The legal settlement will improve transparency during the home sales process, mitigate predatory practices, and help preserve profitability for home builders