The Return of the First-Time Buyer
Homebuilders are reporting that they are seeing more activity from first-time buyers now than in the earlier part of the housing recovery. While the first phase of the recovery was characterized by strong sales at the upper-end of the market, a significant component of which was driven by foreign buyers, and relatively low sales volume, it appears that the housing market is shifting into a mode that will be driven by first-time and entry level buyers and, hopefully, higher volumes. This dynamic should have a positive impact on the overall economy.
About author
You might also like
New Home Sales Slide
On the heels of earnings misses from DR Horton and PulteGroup, the US Commerce Department reported more disappointing news for the new home market. Sales for new single-family homes dropped
Once-Hot Apartment Construction Cooling as U.S. Housing Engine
Faster apartment building was instrumental in pulling the U.S. housing market out of its slump a decade ago.
