Reported 21 days ago
The National Association of Realtors (NAR) reports that the share of first-time homebuyers has dropped to a historic low of 24% of sales, marking the lowest level since tracking began in 1981. Despite this downturn, research VP Jessica Lautz notes that first-time buyers are older, with a median age of 38, and have higher incomes. Looking ahead, there are signs of improvement with lower interest rates and increased housing inventory, potentially encouraging more first-time buyers in the future.
Source: YAHOO