First Time Home Buyers are Leading the Market!

The National Association of Realtors® called it “an encouraging sign” in the Real Estate market. First-time home buyers pushed home sales during the month of May to their peak since May in the year of 2009!

Many home sellers had written off first-timer home buyers because of stagnant paying jobs, tighter credit requirements, and a seeming preference towards renting. BUT the existing-home sales report from the National Association of Realtors shows something different!

First-time home buyers in May were up to 32% of total home sales! That’s up from the 30% they represented in April and 27% from a year ago.

NAR’s chief economist {Lawrence Yun} attributes the first-time buyers come back to “strong job gains among young adults, less expensive mortgage insurance, and lenders offering low down payment programs.” He also predicted even MORE first-timers to enter the market this year depending on “how fast rates and prices rise.”

Call Real Estate Agent Juliea @ 208-244-8505

Premier Group Realty West serving Fruitland and New Plymouth Idaho