NAR Survey Shows Buyers are Increasingly Older, Less Married

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Posted To: MND NewsWire

The share of first-time buyers remains well below historic levels according to the National Association of Realtors’ ® (NAR’s) 2019 Profile of Home Buyers and Sellers, and those who do buy frequently need financial assistance from their family. The annual report, derived from a 125-question survey that NAR mails to buyers who purchased a home between July 2018 and June 2019, will be unveiled Friday afternoon at NAR’s annual convention. First-time buyers account for one-third of sales, a share that hasn’t changed much since the financial crisis. Historically those buyers have constituted about 40 percent of the market. Further, one third of first-time buyers use downpayment help from family or friends. “Prerecession, the number of first-time buyers was higher, in part, because buyers had…(read more)

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