Although only half of surveyed households believe the economy is currently improving, nearly all young renters eventually want to buy a home, and a convincing majority still view homeownership as part of their American Dream, according to a new quarterly consumer survey released today by the National Association of Realtors. Additionally, a newly-introduced index tracking the … [Read more...] about Desire to buy strong despite affordability, economic concerns
first time home buyer
First-time buyers fall again
The share of first–time buyers declined for the third consecutive year and remained at its lowest point in nearly three decades as the overall strengthening pace of home sales over the past year was driven more by repeat buyers with dual incomes, according to an annual survey released today by the National Association of Realtors. The survey additionally found that nearly 90 … [Read more...] about First-time buyers fall again
Today’s first-time homebuyers older, more often single
Today's first-time homebuyer is older and more likely to be single than first-time homebuyers in the 1970s and 1980s, according to a new Zillow analysis. Zillow's study found that Americans are renting for an average of six years before buying their first homes. In the 1970s, they rented for an average of 2.6 years. They're also spending a bigger chunk of their incomes to … [Read more...] about Today’s first-time homebuyers older, more often single
Existing-home sales bounce back strongly in May
Fueled partly by an increase in the share of sales to first-time buyers, existing-home sales increased in May to their highest pace in nearly six years, according to the National Association of Realtors. Led by the Northeast, all major regions experienced sales increases in May. Total existing-home sales, which are completed transactions that include single-family homes, … [Read more...] about Existing-home sales bounce back strongly in May