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First-time homebuyers accounted for 32% of all buyers in 2023, up from 26% in 2022. (National Association of Realtors)The median age for a first-time home buyer in 2023 was 35, down from 36 in 2022.
Meanwhile, the average 30-year mortgage rate is still relatively high at 6.7% and is moving in the opposite direction many expected it would after the Fed began its rate-cutting cycle. First-time ...
Data from the National Association of Realtors shows the median age of first-time homebuyers has reached a record 38 years old after 20 years of floating between 29 and 33. The overall median age ...
Mortgage rates track the yield on the 10-year US Treasury note, which moves in anticipation of the Fed’s decisions on interest rates. Hotter-than-expected inflation readings sent bond yields ...
The typical down payment for a first-time homebuyer was 8 percent in 2023, according to the National Association of Realtors (NAR). For a $400,000 home, an 8 percent down payment totals $32,000.
First-time homebuyer share of market in 2023: 32 percent Not only did 2023 see a low percentage of first-time buyers, but the ones it did see were older, with a typical age of 35.
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