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New market influence. Market Conditions
by Carla L. Davis
A new influence has started make its presence known in the housing market, reports the National Association of Realtors (NAR).
They report that "the percentage of first-time homebuyers under age 25 has been increasing in response to historically low interest rates and continued confidence in the long-term housing market." This number reached 14 percent in 2005.
NAR president, Thomas M. Stevens, notes, "Many younger buyers have seen the wealth-building effects of homeownership in their parents and understand the value of housing as a good long-term investment."
This research also has shown a rising trend in single female homebuyers. This number has increased from 14 to 21 percent in the last decade.
Perhaps this new generation of homeowners will be the boost the market needs.
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