Your search results

7 First-Time Home Buyer Facts

Posted by David & Karisa McElroy on May 4, 2017
| 0

Thinking of purchasing a home?  Are you new to the housing market?  A first-time home buyer perhaps?  If so, here are some facts about first-time home buyers.  See how these compare to you.

  1.  35% of all home buyers are buying their first home
  2.  32 is the median age of a first time buyer
  3.  24% used a gift as a source of down payment
  4.  74% rented before buying
  5.  21% lived with parents, relatives or friends before buying
  6.  Of all first-time home buyers:
    • 58% are married
    • 18% are single females
    • 14% are unmarried couples
    • 8% are single males
  7.  67% say the primary reason for buying a home is “Desire to own our own home”                                                                                                                                                                                                                                                                     from 2016 Profile of Home Buyers and Sellers.  Courtesy of mgic.com
  • Advanced Search

    US 0 to US 5,500,000

  • Mortgage Calculator