Have you been thinking about buying your first home? Have you wondered who first time home buyers are these days? Check out this great infographic which shows who's buying their first homes these days.
While, not surprisingly, married couples are the biggest home buying population at 56%, it's noteworthy that single women now make up 18% of first-time home buyers with number growing year after year. And despite all the news that millennials are not interested in buying homes or have no money to do so, the fact of the matter is that with the median age of first-time home buyers being 31 years old, more and more ‘Old Millennials’ (25-36 year-olds) are realizing that home ownership is within their reach now!
But with both home prices and interest rates increasing, the time to buy is now. Affordability for first-time home buyers will decrease as prices and rates increase. If you're a first-time home buyer needing help finding that first home, contact us. We can help.