First time buyers rise 16% in 2009
November 16th, 2009 Categories: Real Estate News
SAN DIEGO- While this should not be a surprise to anyone who reads some form of media with current economic content it’s good to hear none the less. First time home buyer’s accounted for 47% of US home sales up from 41% in the previous years survey.
The National Association of Realtors are wrapping up their annual conference today in San Diego and it was there that they announced the results of their survey which covered from July 2008 to June 2009.
The typical first time buyer had a median age of 30 with a reported median income of $61,600. Additionally, the typical first-time buyer paid $156,000 for their home, about $9,000 less than in the Realtors’ 2008 survey.
Another demographic increasing in home ownership numbers are single women who now represent about 22% of home buyers while single men represent about 10% of home buyers.
Factors leading to the increase include the following demographic trends: better education, more women working and seeking financial independence, and young women delaying marriage.
Also, women have significantly increased their purchasing power. They own and operate 38 percent of all businesses in America and make up nearly 40 percent of all business school graduates. More immediately, historically low interest rates, affordable home prices, ample housing supply and the first-time homebuyer tax credit are fueling the increase of single women homebuyers.- noozhawk.com
Hey ladies… NICE JOB!!! As a father of two daughters I think this is awesome.
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