Number of First-Time Homebuyers Remains at Historic Low
The National Association of Realtors confirmed on Friday that, for the second straight year, first-time homebuyers made up just 29 percent of previously-owned home sales in 2014.
That number remains the lowest since data was first collected in 2008. And, according to some experts, there’s no real relief in sight.
“The still-tight mortgage credit conditions and more challenging first-time home buyer affordability that were revealed by the failure of home sales to continue recovering last year remain serious concerns as we head into 2015,” Morgan Stanley economist Ted Wieseman said in a note to his clients Friday.
Image via flickr/Mark Moz