More first-time homebuyers returned to the market in the last year, but they had to come with bigger wads of cash.
Between July 2022 and June 2023, first-time homebuyers made up 32% of all buyers, according to the annual report from the National Association of Realtors (NAR) profiling homebuyers and sellers using data from 6,817 survey respondents. While that’s still down from the two-decade average of 36.6%, it’s up from 26% recorded the previous year, which was the lowest in the report’s history.
The uptick in entry-level buyers doesn’t mean homeownership is back on the table for everyone. A large portion of those first-time buyers were wealthier, one of the researchers said, allowing them to circumvent the persistent affordability challenges plaguing the market.
Not me
We in da bury section 8, and we getd everything and everything free
So how many six figure jobs on are the Eastern Shore ??
NONE !!!
What are the KIDS coming up today going to do ????? WAKE UP AMERICA
All of Del MarVa is section 8 !!!! No Six Figure incomes here > note even 5 figure !!
$10,000.00 – $99,999.00 are five figure ranges. If you get paid between these two, than you are making five figures. A fifteen dollar an hour job is $31,200 a year. That is still a five figure job.
The left is creating a society where private ownership isn’t affordable and the government owns everything
Buying a house is not supposed to be easy. Low or no downpayments, low and variable rate mortgages, were all just brief historic anomalies. Now things are returning to normal, as they should and as they always do.