Economists' Outlook

Housing stats and analysis from NAR's research experts.

Sales to First-Time Buyers: 29 Percent of Sales in September 2015

The share of first-time home buyers has remained essentially unchanged for the last five years. First-time home buyers accounted for 29 percent of existing home sales in September 2015, according to the September 2015 REALTORS® Confidence Index Survey Report.12 REALTOR® respondents reported that tight inventory, increasingly unaffordable prices, weak income, and credit profiles that fail to meet tighter underwriting standards are conditions that continue to work against first-time home buyers.

ft
Buyers age 34 and under, which are typically first-time buyers, accounted for 28 percent of sales reported by the respondents. Nearly half of buyers were in the 35 to 55-year old age group.
age
Slightly more than half of all reported buyers lived in their own homes before making their recent home purchase. These include trade-up or trade-down buyers as well as those who are purchasing a second home or one for investment purpose. Prior renters, many of whom are first-time buyers, accounted for 35 percent of sales, essentially unchanged compared to past months.
living


12 First-time buyers accounted for about 33 percent of all home buyers based on data from NAR’s 2014 Profile of Home Buyers and Sellers (HBS). The HBS is a survey of primary residence home buyers and does not capture investor purchases but does cover both existing and new home sales. The RCI Survey is a survey of REALTORS® about their transactions and captures purchases for investment purposes and second homes for existing homes.

Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.

Advertisement

Comment Policy

The opinions expressed in reader comments sections on this website are those of the reader and not NAR or REALTOR® Magazine.

About Economists' Outlook

Visit this blog daily to see what NAR experts are saying about the economy, the housing market, and other factors that will impact your business.

Housing Minute

Housing Minute is a monthly video series highlighting the latest housing data from the National Association of REALTORS® in a minute or less.