Trends Amongst First Time Home Buyers
By Pete Cullen ~ Broker Associate, GRI,CRS, Serving The Entire Monterey Bay Area
(Bailey Properties, Inc.)
The National Association of Realtors has released some new data on the demographics of homebuyers since 2006. Despite fluctuations in the market, the general demographics of first time homebuyers have remained relatively unchanged. There is data that some may find suprising or new. In terms of household composition, married couples still lead the pack making up 52% of first time buyers. Of interest, single female first time home buyers make up 22% of buyers while single males make up only 12% of buyers, a margin of almost two to one. The average age of first time homebuyers has also remained in a constant range since 2006, from about 30 to 32. It will be interesting to see how this number may shift as millenials begin considering or not considering buying their first home. If you are ...
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