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
Housing Starts and Building Permits Exhibit New Found Strength
Total housing starts jumped 20.2% from March to April to hit an annualized pace of 1.14 million with single-family starts jumping by 16.7% to 733,000. Building permits rose 10.1% from
Conforming Loan Limits Continue to Impede Housing Recovery
The availability, or lack thereof, of mortgage financing has been one of the biggest factors impacting the pace of the housing market recovery. Loan limits on federally-backed mortgages have not