Good news for the real estate market and prospective buyers: First-time homebuyers are jumping back into the game. According to a recent survey from the National Association of REALTORS®, after slipping for three straight years, the share of sales to first-time homebuyers in the 2016 survey ticked up to 35%, which is the highest since 2013 (38%) and a revival from the near 30-year low of 32% in 2015. In the 35-year history of NAR’s survey, the long-term average of first-time buyer transactions is 40%.
CAR breaks down who these first-time buyers are in this infographic. If you’re looking to sell this year, there’s a good chance this could be your prime audience.
