Stacie Hartman

The Mortgage Blog of Stacie Hartman

First-Time Buyers Nearly Half Of All Home Sales

According to The National Association of Realtors’ 2009 Profile of Home Buyers and Sellers, first-time home buyers accounted for 47 percent of all home sales last year. That was the highest market share on record, passing the previous high of 44 percent in 1991. This March, based on a survey from Campbell/Inside Mortgage Finance, 48.2 percent of purchases were first-time buyers. Thomas Popik, research director for Campbell Surveys, said, though many analysts felt the pool of first-time buyers had been depleted last fall, normal spring buying, combined with the tax credit, produced blow-out results. More here. Also a Coldwell Banker survey on single home buyers here. More on single buyers here.

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3 Responses

  1. webmistress says:

    I would love to actually own a home (renting sucks) then again we never really actually own anything here in the US. After its “supposedly” paid for yoru still paying property taxes amongst other things…after awhile that dream home becomes a nightmarish rental space.

    • That is one way to look at it certainly. However, in my state property taxes are low enough that if I pay my mortgage in full my monthly taxes would be under 500 per month. I am sure that I would never be able to rent a home at the same level of quality and style for that type of money. So while you are right, you will always have some type of “payment” on your home, the investment opportunity and the ability to keep your payments extremely low going into retirement generally make it a sound investment over renting. Of course home ownership is not for everyone and I strongly recommend that everyone take the time to consider the pros and cons before becoming a homeowner.

  2. webmistress says:

    Great sound advice and tips Stacie, yes it is true many get into a “money pit” with homes because they did’nt throughlly educate themselves on the pros and cons. Being blinded by the fact your about to own a home is not the right thing to allow. Knowing the market, the area your looking to buy and all of that is soemthing many should studied up on long before hand.

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